Building Costs in California

[Steven Silbert]

At the end of this year, I'll be moving back to San Luis Obispo County, CA, and I have been a bit depressed looking at the housing prices. It got me thinking about new construction for single family with an ADU or multi-family, and house hack to offset the mortgage. I've seen that the average building cost for the state is around 495K, which is significantly less than the average home in SLO at over a million. I was wondering if anyone had experience in new construction and how their costs turned out to be. Especially with small multi-family, but SFH info would be great too. I can find plots of land around SLO for less than 200, in paces like Atascadero and Los Osos, so I'm very curious to see if this will actually work!