New build investing

[Justin Hanson]

Im looking at a prime property location with views of the ocean in the PNW. The lot is in a great location with great views, and can have a HiLine home built on it for around 250k the neighboring homes are all valued at 550k-600k + what is the catch that I am missing? What are the hidden costs associated with this route? The cost to build is 250k and I believe covers permits but not 100% sure. It does not cover hooking up utilities but they are less than 100ft from where the home will be built.