I've built a house--pretty much literally. My dad built my parents' house, and anything we couldn't do when we built mine we sub-contracted out.

In your situation, just make sure that you choose a builder you can work with, first of all, and maybe ask for some references. Talk to some people that builder's done work for before and ask their opinion on a variety of topics. Is the builder easily reachable? Does he/she return phone calls quickly, answer questions? How much of a cost overrun did you have when building your home compared to what the builder quoted you? Stuff like that.

Of course, WI probably has some words of wisdom much more insightful than mine.

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"Life is too short to wake up in the morning with regrets. So love the people who treat you right, forget about the ones who don't, and believe that everything happens for a reason. If you get a chance, take it. If it changes your life, then let it, and if you have to wait for what you really want, take the time because nobody said that life would be easy. They just promised it would be worth it." ~ Unknown author