It is not always very easy to choose something that you would like to do with a land.
I guess this is for IELTS or TOEFL. If so, you need to introduce the topic to the reader first. Do not answer the prompt very direct because the task expect you to write an essay.
. There are a lot of small things that can influence my decision such as the size of the land, location etc., but if I would have to choose my first option will be to build a house for myself.
... you have good points, but need to improve presentation.
This is what I suggest for your introduction;
Land is a scarce resource that has many uses for people. This is why people consider it as a highly valuable asset. If I receive a land I would consider its size, location, landscape, neighborhood etc. before I take a decision as to what purposes I would use it.