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If you are building new, there will be fire codes that older homes are exempted from. A sprinkler system may be required and certainly should be considered (would really cut future insurance costs). This is not the time to skimp on construction... If you have to cut costs on somthing, make it furnishings that you're more likely to get donations to pay for (alumnae love to have their names on chairs, etc but aren't as enamoured with paying for the roof, or central AC or more bathrooms).
Land availablity and costs can be the biggest limitation though.
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