Building a house from scratch

[Wenhao Leu]

Hello all! Just an RE investing newbie here! I live in the bay area, where it costs extremely high to purchase a home. I do have some savings and i was thinking of purchasing a piece of land (~$400k) and build a house (3 bedroom 2 bath at ~$300k). I of course can be off on the estimate of building the house. Is this a good idea? Would the permitting take forever?