Approximately how much would it cost to build a simple, small cottage for 2 people?

One bedroom, or even a studio. Water is available in a well on the property.

Do you have any building experience?? DIY experience?? If so you can save yourself a fortune on labour by doing as much as you can yourself. However, I think that you will find an average plot costs in the region of 拢100K+ depending on size. It sounds like you already have this. The actual building itself will vary depending on how shrewd you are. Get yourself down to your nearest reclaimation yard (search on google or yell.com). These places have anything and everything you can think of. The main thing is they will have reclaimed stone which will cost you about half the normal cost of going to a standard supplier. As well as the stone you will be able to pick up everything from doors to baths and kitchen sinks at these places. If you are good with your DIY skills these things take a little work but will save you an absolute fortune. If you use this method you could easily build a small cottage for around 拢60k. If you contract out the work to a building firm, firstly be very cautious about who you give the work to and get a few quotes from different companies first. The main thing is to realise that this method could cost you far more- probably in the region of 拢100k- 拢130k. Before you do anything get down to WHSmith or a decent newsagent and pick up a few copies of 'Homebuilder & Renovator' magazine or similar. This will give you some excellent tips and also list suppliers of some of the materials you will require. They also sometimes list the reclaimation yards I mentioned earlier. If you have the time and money to go ahead with this project I strongly recommend that you do it. Don't be deceived it will be extremely hard work but it's worth it in the end!!

Does the property have a septic field? What about electricity?

The cheapest you can get away with in my area is a 750 square feet (minimum allowed by building codes) and at a bare bones rock bottom price of $60.00 a square foot you are looking at $45,000.00 the Septic field (unless city sewer) would run between 4 and 15 grand the well (unless city water) would run 3 to 5 grand.

I would figure on closer to $80.00 a square foot if I were you or $60,000.00

Check with your local zoning board (city or county) to see what the minimum requirements would be for you.

It really can vary a whole lot depending on fit and finish, site constraints, etc. Here is a small cottage kit avalable at Lowes
http://www.lowes.com/lowes/lkn?action=pg...
Pick one of those you like and call for a current materials price. Then, if you are still interested, buy the plans and gove them to a contractor and ask for a build price on the project and make sure he includes the stuff not in the Lowes package (foundation, permits, etc). Add it all up. You will be in a ballpark.

around 40 thousand depending if you already have the land if you don't add another twenty on.if it is going to be an acre.