Source: Point 2 Homes —
Pro: You Can Build Your Dream Home
This is by far the best incentive to buy land and build your own home. Buying land helps secure the spot you want for your house, and when it comes to building and design, you can let your creativity go in any direction. Provided you comply with local zoning and building laws, of course.
Building a house from scratch also allows you to put in energy-efficient systems or, if you want to go all out on being eco-friendly, even build a home that’s completely off-grid. Also, if you are licensed to act as your own general contractor, you may find that building your own home can be cheaper than buying one.
Con: The Process Requires More Research
If you plan to build a house, the list of things to do before laying the foundation can be surprisingly long. Finding an architect and contractors is just the tip of the iceberg. You will need to conduct soil tests, check local building codes and zoning regulations, obtain building permits, and make sure that you have access to underground utilities.