It’s an option but not for the unwary.
It can be a much cheaper option than buying off the shelf but you need to earn that saving by jumping through a few hoops to get it.
It can also be a much riskier and more expensive option than you first planned for if you don’t get it right. Pay for the advice of professionals if you’re not sure.
Can’t really offer any personal experience as my housing tastes are far too retro for a new build to appeal.
You have a few major obstacles to overcome that just don’t exist in the same form when compared to getting an existing property.
Design – someone more knowledgable will be along in a minute to give you better advice on this than I can. My only advice would be to try and maintain clarity of vision. Be clear what your requirements are from the outset and stick to that vision as much as you can. Changes on the fly are where unscrupulous Quantity Surveyors such as myself earn the big bucks.
Planning – A whole world of hurt awaits if the council / neighbours don’t share your vision.
Funding – Lenders tend to be reluctant to fund self builds.
Execution – Finding a contractor to carry out the work and then managing the process can be a stressful ballache.
Lots of people think they are capable of project managing a build. Lots of them turn out to be wrong.