Luxury Real Estate Outlook a Decade after the Boom

It’s been about a decade since the housing boom. Luxury real estate is booming along with the other housing segments. Baby boomers and millennials often compete for the same houses. One strategy for aspiring home buyers stuck in a tight market is to buy a custom new construction house. Buying new means stepping out of the crazy real estate market with bidding wars and low inventory. Instead of waiting months for the perfect house to come along, millennials and baby boomers with the means get exactly what they want with a custom home build. According to a piece by, even though the boom time is back, it’s different. Lending standards are not as loose. Also, young buyers often desire luxury real estate that rewards their hard work and delayed gratification.

1430 Byron Nelson Pkwy

Skipping the starter home

Years ago, people compromised by living in a fixer-upper for a first home. Millennial buyers who delayed home ownership often skip the starter home stage. An article by, spend more on their first homes compared to prior generations. A complete attitude shift about first-time buyers means some millennials spend one million dollars on a first home, skipping the houses in the $200,000, $300,000 and even half a million range. A study by Zillow found millennials between the ages of 18 and 36 often wait until they are older to buy. The average age of an American home buyers is 36.

Locking in on a dream

Since the inventory of homes is at a low, it’s smart to lock in on a lot. By meeting with a new construction home builder, it’s easy to decide on a plan as well as determine a realistic time line. According to reports, there are 15 percent fewer resale homes on the market today compared to just a year ago. Some millennials also love new construction because they don’t need to spend precious time on renovations. In addition to finding a good home lot, millennials can also prepare for home ownership by continuing to pay off debt and save up money for a new home.

Some creative ideas for a millennial who want to afford luxury new homes, include asking wedding guests to contribute to a new home fund and starting side business with taxable income. Most lenders want to see documented income that boosts the debt-to-income ratio in a favorable direction. At J. Lambert Custom Homes, we help millennials achieve their goal of owning a Tuscan Style, Colonial Style, French Style or other architectural style to match their dreams. For more information about luxury real estate trends, please contact us.

Comments are closed.

About Us

J. Lambert Custom Homes is a Certified Master Builder and is a member of the Certified Master Builder Corporation. Jimmy Lambert is a premier custom home builder in Southlake that certified master builderoffers luxury living at its best and services the Fort Worth, and surrounding communities. Read More

View our projects on Houzz!


"Lambert homes are built to the highest standards of quality for discriminating homeowners. You cannot underestimate the value of the attention to detail and workmanship that goes into every Lambert home. I have been a very satisfied homeowner for over five years and we love our home and the service provided by the expert Lambert team!" - AMY S.

Contact Information

J. Lambert Custom Homes
Address :
850 E State Hwy 114 #100
Southlake, TX 76092

Phone : (817) 992-4983
eFax : 800-853-5540
Email : Click here

Texas Real Estate Commission Consumer Protection Notice

bbb accredited business