Thanks again for all the input gents. We are going to set up an office visit with the builder in the second week of June and see if this still sounds like the thing for us.
Have you given a thought to designer modular homes? There was a thread on this a while ago and some of them were really cool. I don't like most family homes. They all look the same to me, both inside and out. If I'm ever in a position to buy a plot of land and stick whatever I want on it, I'd want something a bit unique, and filled with high-end materials. The other benefit with modular is you can eliminate a lot of the hassles of building from scratch and know what you total costs will be before you start.