Well, it depends on what you mean. One acre is the same as 43,560 square feet. (And it doesn't matter the shape, but a "square acre" would be about 208 feet on a side.)
So, there's plenty of room for a nice big ranch style house of even 2,300 square feet with a big lawn to mow. If you wanted a house that has 1 acre of floor space, that's a lot of bathrooms and bedrooms! FYI, Buckingham Palace is 828,818 square feet, or about 19 acres.
So, the final answer is"yes, you can build a home on one acre."
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As long as local zoning and building codes allow it. You'll still have most of the acre left for a garage, yards, garden, and perhaps a small pasture. Home = 3,000 sq. ft. Acre = 43,560 sq. ft.
1 acre = 43560 sq ft, so there should be enough room to build a 5000 sq ft house.
It is usually called, "a quarter acre" or "one quarter acre".
Since a quarter acre is 10,890 square feet, you can easily build a nice home with a garage and some yard space on it. Some communities in the US have requirements as to what size and type of home may be built, and some will even say that the lot must be bigger, but it can be done if local zoning will allow it.
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