Charles at todays prices you can get more home for less then you can build one for. I work for several builders and they can build a basic home around $80 sq ft. I hope this helps out and if you need a good builder let me know and I will refer one to you. Take care
It is hard to tell you specifically what building costs are, since they vary so much, depending on style, siding, interior finishes, etc. Have you spoken with any builders? I would be happy to discuss options with you. there are so many bargains right now for existing homes, that new construction is going to have a hard time competing from a price perspective. 10 acres on Santa Rosa Sound is a huge amount of land --is this in Fort Walton Beach? Would love to talk to you about what you want to do.