Should I be worried about a spec home?

[/u/mkestreetsweeper]

Hello all - my wife and I continue to work on finding a house in Michigan. We have found a home that we love the look of (layout, new, seems quality to a novice). The home is a spec home from a custom builder in the area ... and despite loving the look of the home, I do have some reservations.

1. 
   The home was built in ~7 months - is this typical for a quality new home?
   
   
2. 
   Unfortunately for the seller, the first thing the realtor at the open house started telling us that this is someone's kind of first solo-build/prove-it project for her builder family.
   
   
3. 
   The home has well water, and a septic tank in the front yard.
   
   
4. 
   The garage is unfinished.
   
   
5. 
   It has been on the market for a few months, has had two open houses in the last two weeks, etc.
   
   
6. 
   It is $825k - and appears overpriced to me.
   
   
7. 
   My wife wants it
   

Any takes on spec homes in general, what to watch for, and/or this one specifically?

Thanks yall!

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Should I be worried about a spec home?
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