For the design review guidelines coupled with the demands of the resale buyer, you would be hard pressed to build a home less than $200/sf.

Example, all front doors/windows must be recessed 18″ and all side windows 12″. These types of items raise your cost as your essentially frame a house inside a house.

You cannot use vinyl windows (must be wood windows) and cannot use cheap “S” tile track roof. Must be a ‘redlands clay’ type roof (read expensive). Multiply this by 100 different items and up goes your budget.

At that price you would be cutting corners everywhere and will end up with a product which is vastly inferior to your competition. Trust me, I’ve seen it happen out there.

Right now you can buy below replacement value which is a great starting point.