Interestingly enough, it’s not only move-in-ready homes that are flying off the market at unprecedented prices, but builders are hitting even more hurdles in this insanely hot North Texas market.
We asked Les Owens of LRO Residential, a daltxrealestate.com Approved Builder, just what are buyers looking for, and what should they look out for? As it turns out, one of the biggest hurdles buyers who want to build will find is the place all home start: dirt.
“We are finding dirt at reasonable levels off the open market, but we are seeing all types of buyers — investors, end users, Realtors, first-time would-be builders — all competing for lots, and most are not experienced enough to know what they are doing and have driven land to all-time highs in most markets,” Owens said. “Not much room to keep going up, what goes up will come down, usually faster than it went up, so land speculators beware.”
Owens, whose homes have classic lines and multi-purpose rooms with some truly stunning kitchens, is noticing an uptick in empty nesters building their post-kids dream homes.
“This is great for my business as lots of empty nesters are coming into the custom home market, and that is the group my homes fit perfect for,” Owens said. “We have had great luck with downsizing clients from a 6,000- to 9,000-square-foot home to a new, more energy efficient, trendy, lock-and-leave type home, and they love it. I have tons of experience working with this demographic and my style really fits well with this group.”
Owens says that some other higher end clients want custom homes that are timeless, though “clean lines are still a bit hit whether in a more traditional home” or a more modern one.
“Contemporary is, of course, cool, but some people are already turning from it,” Owens added. “We are seeing clients who liked the idea, but have gone away from it.”
And clients are asking for more earth-friendly and energy efficient choices, which Owens recommends as long as they make financial sense.
“Most of our clients are self-made, and they understand the value of money,” Owens said. “Paying for outrageous green features just to say they have it is not what got them where they are. They want Green features, but only ones that make good sense from a pay-back perspective and/or they can see an immediate benefit for use in their daily lives.”
Still, Owens is focused on providing the highest quality of materials and workmanship that his brand is known for, as well as the innovation that homebuyers expect. To see more of Owens’ work, stay tuned to daltxrealestate.com!
