Could you look at my spec house numbers?

[Miller Josh]

I am looking to build my first spec home and would like some feedback. Below are the numbers I have to work with. It is a slab on grade single level 1,600 square foot home with a two car attached garage. I have talked to a number of realtors in my area and these are selling well.

Purchase lot $31,000

Plumbing $15,200

Electrical $10,600

Concrete $15,800

Dry Wall $12,760

Flooring $4,000

HVAC $16,158

Lumber and cabinet package $66,976

Driveway $3,200

Landscaping $1,200

Realtor fees when selling $13,000

Bank fees and interest $4,100

Building permit $1,700

Labor to build - Paid to my construction company $36,750

Total cost $234,344

Going with recent history of what others are selling for in the area it looks like it should sell for a minimum of $250,000 possibly closer to $265,000. Is there something I am forgetting? Do my numbers look about right? Do you think the margin is suffficiant?

[J Scott]

There is a LOT you're forgetting and even if you weren't, it's not a good deal. You're in way over your head based on this post. 

I would find someone who does this for a living and offer to intern for him for a few months...