Spec Homes
I am a general contractor looking to build a spec home. I have looked at a lot of homes to fix and flip but there is just not the margin that I would need to make it work due to the current market in my area. After talking to a number of realtors they have recommended building spec homes. The construction of the home and financing are no issues with me. My questions are: How much margin, after I pay myself to build the house should I expect or require to make it work? I'm looking at a single level, modest home marketing to the retirement age community in the $180,000 to $220,000 range. For those of you who have done this before how did you come up with a highly marketable home plan? Any other advice from those who have done this before?