First Time Home Buyer. Looking on ways to find estimated cost for building on a plot of land : RealEstate

Hi Redditors,

I am in the market for a new home. Living in Chicago area. Looking to buy in North Suburbs.

I didn’t find anything that would be fitting my need. Most sellers are listing and relisting to list again during spring. So I wondered what if I buy a land and build on it.

I found a plot of land for 200k. The developer has built a home next to the plot and is for sale for about 750k. My budget is 450k together. So is it OK to buy this 200 k land and build a house on it for 250k. My concern is, this will look very out of place in that neighborhood. So I should I even think about this?

Or constructing with a builder might be cheaper than buying a built house. So I can build a similar house for lesser money.

I tried my best to explain. Hope you understood. If there are any estimating tools that would tell me what it would cost to build a 2 story, 4 br , 2800 sq ft house.

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