If time is a factor for you, building is not the best option. In addition to shopping for land, you have to do permitting, hire a contractor, supervise the construction, and then handle all the procedures for getting utilities hooked up. All this – if you do it right – often takes upwards of two years. Usually the completion date is hard to predict as well, making planning difficult. Obviously you can rent during this time, but that implies a cost in addition to what you’re already spending on the construction. Of course, if you’re getting a good enough deal on the construction, it might be worth it.