I suggest a halfling because of the higher SP.
Im level 26 and have about 30 SP from items, and that leaves me with 255.
As for the build, resists are your primary.
15 fire and water for 90% and recoil immunity, 17 for perfect resists.
I recommend buying a staff of fire or water because it adds +2 to fire or water, unless you want air or earth. It gives you skill points you can train in something else.
As for lore, 10-11 is enough. You need your resists and attack spells.
Get 10 mind for perfect free action, 7 spirit for max strength mana shield, 5-10 life for longer lasting resists, and train 5-10 meditation. Keep in mind that you get 10 meditation from the mages guild.
You need about 5 evocation, 5 incantation for cure poison and dispel blindness.
You need 10 spirit travel so it's easier to level up. You should have 5 pieces of plat, for 50 dodge, so that will leave you with 5 spirit travel.
Get 6 merchant to max out the amount you get when you sell. 5 merchant works, but 6 gives a 100gp bonus, where 7 gives 50gp.
As for spells, get firebolt, lightning bolt, fireball and blizzard for offense.
Then you will need resist fire, resist cold, bravery, cure poison, mana shield, free action, resist shock, resist petrify, fly, speed, strength. Almost exactly in that order.
I also recommend create food.
Not sure how experienced you are with the game, but mages are a lot more complicated than meleer's.