re: Questions about building a house and costs

Cost per square foot varies dramatically from area to area and with the level of finishes/amenities selected. BUT, unless you can pay for the whole thing in cash, you will need to concern yourself up front with appraisal values in the area.

Appraisals are drawn from comparable properties in the area...if it's a rural area with few/limited comps, it will almost certainly NOT appraise for what it costs to build (unless your plans are very modest). Have known tons of people who had 20, 30, 50% of build cost in hand, but the planned house wouldn't appraise at the cost to build. Some saved and paid for it all in cash, others dramatically scaled back their plans...others built big, but skimped on finishes/fixtures and then replaced them once the final mortgage was landed (paying cash for the upgrades).

So don't get your hopes too high on securing construction funding until you familiarize yourself with the real estate market in the target area.