Hi Wisecom,
Living in the countyside we have toyed with the idea of building our own house for a long time. Thus far we have decided against it.
The main reason is that to get a site in an ideal location is not easy. When we first thought about building we reckoned a field anywhere would do, but in reality, as the children get bigger, we find we really do need convenience more than anything else, and to get a site in a town would be next to near impossible.
If you build your own home, you get what you want ... but I think what we want and what we need can be poles apart at different stages of our lives.
BTW I think 120 is a bit low for a build cost ... maybe 140 would be closer to the mark.