Need a reality check - buying land to build a cabin (ON, Canada)

[Taras K.]

Before I dive into this deeper, I wanted to get a honest opinion from fellow investors.

A beautiful piece of land (1acre) just popped up on the market for below market value in the cottage country in Northern Ontario. The only thing I know about this land is there is hydro on the property line and that the road is maintained year round.

My first and only thought was to build a Scandinavian style cabin with sauna & a hottub to be rented out on airbnb and for personal use. Comparable, 800-1000ft cottages sold in the area between 550K-650K and airbnb's are rented for $500 per night.

My question is -- what are some of the things to consider before I start diving deeper into this? What is an avg cost per sq ft to build a winterized cottage in the cottage country now adays? Also, I'd need a septic tank and a well dug -- what are the costs associated with that?

Honestly, any advice will be greatly appreciated.