Buying vs Building ?

I'm exploring the idea of buying 1 acre lot now in good neighborhood with good schools and then build in future(in 3-4 years).

Can anyone suggest if this is good idea. I'm willing to build a home over 3500 sqft with 2 levels.

currently it's costing around 700k to get 3500 sqft home here in Atlanta in neighborhoods like Cumming and will have commute like 1hr from downtown..

I'm eyeing few nighbourhoods which are not too far from the city closer to highway and houses seems to be very expensive in those locations.

I noticed there are few open residential lots available sized 0.5-1 acre ranging from 50k-100k

So it a good idea considering costs to build ? Obviously, I would be hiring contractors/builders to build.

Or buying an existing home is good ?