The game I am working on has a variety of activities. One of these may look like this: You can pay in-game currency to begin construction of your house. This starts out as a plot of land with construction workers at the site. They tell you that it will take a week to finish making your house, and you should come back when they’re done. It includes a progress bar showing how much time is left. You can continue exploring the game’s other features, but you won’t have access to your house for the first week. How would that make you feel?
A week sounds like a long time. Maybe shorten it to 1-2 days? Or maybe you can help the workers and speed the process. 
If the housing is not the main point of the game but rather as a side thing and the game’s other activites give a week or mores worth of content, then it would work perhaps
But personally I don’t feel like it would be a huge benefit as I never really see games whose content can last you a week or more.
I would recommend looking through your game and playing through the entire game with a new player’s prespective and time yourself, and the time you achieve after you (or perhaps some of friends) last can be used as a maximum time a new player would be entertained by your game and use that as the time it takes for the housing to finish
Or if you want to make the construction an activity as well, I recommend doing what @Crazedbrick1 stated above