Does building new home cost similAr to buying?

[Nida Hussaini]

I couldn’t find hone of my choice.. i thought about buying upper fixer but prices are all hiked up.. so i m thinking if building new home would be a good idea? If so is it recommended to hire building company for design n build or its better to have seperste architect and separate builders?

The 8000 sqft land in my preferred area is selling for $250k.. if I want to build a 4-5 bedroom 3.5 bath home , 2800sqft.. how much it might cost me??? Is it worth building, ??

iff I were to buy 1970’s house and plan yo renovate , will I have resale value??if i plan to sell in 2-3 years.. 
I’ve found a 5000 sq ft home in unincorporated area, popular neighborhood, its 1979 build, its in decent condition but requires flooring, paint , exterior roofing , walls all renovated, guessing cost might be $150k to make it new.. The houses surrounding this home are newer models (2013 etc) and smaller sq ft..,  is it worth taking risk on such a huge home..renovations might take 8 months, then might be a bit difficult to find buyers since home is huge.. so out of pocket cost.. Do buyers prefer newer homes for such huge sqft rather than renovated?? 

Looking for advice by investors here..upper-fixer