How much does it cost (ballpark) to build a guest house in North Florida if I already have the land?

Question

There is some land nearby I'm thinking of buying. They say when you build, you can have one home and one mother-in-law/guest cottage connected to the main house by a covered walkway.

But, I cannot afford to build a house right now -- and I can't afford to invest in something I cannot live in. Yet I really want to do this if I can think of a way.

I was thinking maybe I could save money by building the mother-in-law suite, living in that for a few years (2 people - no kids), and THEN building the house when I had the money!

Or, selling the property with just the guest cottage on site (if I move).

If I buy the land (in subdivision/underground utilities, city water, paved roads, etc.), I want to know:

1) Would it really save me money to go this route and have the guest cottage built and not the main house?

2) Could such a cottage be built decently (pref brick/wood floors/ 1 bedroom/ 1.5 bath w. loft & deck) for less than $100K?

I live in North Florida. Thanks :-)

Answer 1

There are several things to consider. First see if the land has any restrictions on it. Such as the minimum size house that can be built. Where I live the Min for a one level is 1200sq ft. Second, see if there is a time limit on when you have to begin and/or finish construction.

One option to consider is to see if a small trailer can be placed there as a temp home and see again if there are time limits.
The $100K you are looking at, you didn't give any size of the unit. Construction costs depending on the exact area may be between $125 and up per sq ft. Another option if it can be done is to build a shell. You finish the inside, cabinets, plumbing as much as you can. Your labor is cheap when compared to a contractors.

Hope this helped.