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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2015	Mar. 07, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Entity Registrant Name	LGI HOMES, INC.
Entity Central Index Key	0001580670
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		20,270,389
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 316.6

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 37,568	$ 31,370
Accounts receivable	17,325	7,365
Real estate inventory	531,228	367,908
Pre-acquisition costs and deposits	7,001	9,878
Property and equipment, net	2,108	1,610
Other assets	14,869	7,515
Goodwill and intangible assets, net	12,234	12,481
Total assets	622,333	438,127
LIABILITIES AND EQUITY
Accounts payable	24,020	15,479
Accrued expenses and other liabilities	40,006	21,365
Deferred Tax Liabilities, Net	2,726	2,685
Deferred tax liabilities, net	308,192	216,099
Total liabilities	374,944	255,628
COMMITMENTS AND CONTINGENCIES (Note 16)
EQUITY
Common stock, par value $0.01, 250,000,000 shares authorized, 21,270,389 shares issued and 20,270,389 shares outstanding as of December 31, 2015 and 20,849,044 shares issued and 19,849,044 shares outstanding as of December 31, 2014	213	208
Additional paid-in capital	175,575	163,520
Retained earnings	88,151	35,321
Treasury Stock, Value	(16,550)	(16,550)
Total equity	247,389	182,499
Total liabilities and equity	$ 622,333	$ 438,127

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in dollars per share)	250,000,000	250,000,000
Common stock shares issued (in shares)	21,270,389	20,849,044
Common stock shares outstanding (in shares)	20,270,389	19,849,044
Treasury Stock, Shares	1,000,000	1,000,000

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues [Abstract]
Home sales	$ 630,236,000	$ 383,268,000	$ 160,067,000
Management and warranty fees	0	0	2,729,000
Total revenues	630,236,000	383,268,000	162,796,000
Cost of sales	463,304,000	280,481,000	121,326,000
Selling expenses	52,998,000	36,672,000	15,769,000
General and administrative	34,260,000	23,744,000	13,604,000
Income from unconsolidated LGI/GTIS Joint Ventures	0	0	(4,287,000)
Operating income	79,674,000	42,371,000	16,384,000
Interest expense, net	0	0	51,000
Gain on remeasurement of interests in LGI/GTIS Joint Ventures	0	0	(6,446,000)
Other income, net	(606,000)	(708,000)	(24,000)
Net income before income taxes	80,280,000	43,079,000	22,803,000
Income tax provision	27,450,000	14,868,000	1,066,000
Net income	52,830,000	28,211,000	21,737,000
Loss attributable to non-controlling interests	$ 0	0	590,000
Net income attributable to owners		$ 28,211,000	$ 22,327,000
Earnings per share:
Earnings Per Share, Basic	$ 2.65	$ 1.37
Diluted (in dollars per share)	$ 2.44	$ 1.33
Weighted average shares outstanding:
Basic (in shares)	19,939,761	20,666,758
Diluted (in shares)	21,740,719	21,202,967

CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Total	Formation	Reorganization	IPO	Common Stock	Common Stock Formation	Common Stock Reorganization	Common Stock IPO	Common Stock Restricted stock units (RSUs)	Additional Paid-In Capital	Additional Paid-In Capital Formation	Additional Paid-In Capital Reorganization	Additional Paid-In Capital IPO	Additional Paid-In Capital Restricted stock units (RSUs)	Retained Earnings	Total Owners’ Equity	Total Owners’ Equity Reorganization	Non- Controlling Interests	Non- Controlling Interests Reorganization	Treasury Stock [Member]
Beginning balance (in shares) at Dec. 31, 2012					0
Beginning Balance at Dec. 31, 2012	$ 25,211,000				$ 0					$ 0					$ 0	$ 25,211,000		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	21,737,000
Contributions	18,332,000															2,535,000		15,797,000
Distributions	(9,111,000)															(9,111,000)		0
Issuance of shares (in shares)						1,000	10,003,358	10,350,000
Issuance of shares		$ (1,000)	$ 0	$ (102,635,000)		$ 0	$ (100,000)	$ (104,000)			$ (1,000)	$ (48,959,000)	$ (102,531,000)				$ (33,852,000)		$ 15,207,000
Issuance of restricted stock units in settlement of accrued bonuses	1,026,000									1,026,000
Compensation expense for equity awards	43,000									43,000
Issuance of shares for GTIS Acquisitions (in shares)					409,091
Issuance of shares for GTIS Acquisitions	4,500,000				$ 4,000					4,496,000
Ending balance (in shares) at Dec. 31, 2013					20,763,449
Ending Balance at Dec. 31, 2013	164,374,000				$ 208,000					157,056,000					7,110,000	$ 0		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	28,211,000
Issuance of shares	240,000													$ 240,000
Issuance of restricted stock units in settlement of accrued bonuses	642,000									642,000
Compensation expense for equity awards	862,000									862,000
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures									85,595
Ending balance (in shares) at Dec. 31, 2014					20,849,044
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt	$ 5,200,000									5,200,000
Treasury Stock, Value, Acquired, Cost Method																				$ (16,550,000)
Treasury Stock, Shares, Acquired	(16,550,000)
Ending Balance at Dec. 31, 2014	$ 182,499,000				$ 208,000					163,520,000					35,321,000					(16,550,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 52,830,000
Issuance of shares (in shares)	345,760				345,760
Issuance of shares	$ (9,496,000)				$ (4,000)					(9,492,000)
Issuance of restricted stock units in settlement of accrued bonuses	238,000									238,000
Compensation expense for equity awards	2,279,000									2,279,000
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures					75,585
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	47,000				$ 1,000					46,000
Ending balance (in shares) at Dec. 31, 2015					21,270,389
Ending Balance at Dec. 31, 2015	$ 247,389,000				$ 213,000					$ 175,575,000					$ 88,151,000					$ (16,550,000)

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Additional Paid-In Capital
Initial public offering, underwriting fees and offering expenses		$ 11,216
Debt Issuance Cost	$ 297
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature	$ 2,971

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$ 52,830,000	$ 28,211,000	$ 21,737,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Income from unconsolidated LGI/GTIS Joint Ventures	0	0	(4,287,000)
Distributions from unconsolidated LGI/GTIS Joint Ventures	0	0	4,414,000
Gain on remeasurement of interests in LGI/GTIS Joint Ventures	0	0	(6,446,000)
Depreciation and amortization	883,000	825,000	292,000
Gain on settlement of participation fee obligation	0	0	(9,000)
Loss on disposal of assets	0	14,000	56,000
Settlement of accrued bonuses with restricted stock units	0	0	1,026,000
Excess Tax Benefit from Share-based Compensation, Operating Activities	(47,000)	(356,000)
Compensation expense for equity awards	2,279,000	862,000	43,000
Deferred income taxes	42,000	1,000	(288,000)
Changes in assets and liabilities:
Accounts receivable	(9,960,000)	(1,963,000)	(3,871,000)
Real estate inventory	(151,707,000)	(198,357,000)	(74,595,000)
Pre-acquisition costs and deposits	2,877,000	(6,066,000)	(2,705,000)
Other assets	(4,795,000)	(617,000)	286,000
Accounts payable	9,630,000	1,480,000	5,827,000
Accrued expenses and other liabilities	8,812,000	2,752,000	4,031,000
Net cash used in operating activities	(89,156,000)	(173,214,000)	(54,489,000)
Cash flows from investing activities:
Payment for business acquisitions, net of cash acquired	0	(15,169,000)	(30,139,000)
Purchases of property and equipment	(1,117,000)	(1,195,000)	(685,000)
Capital investments in unconsolidated LGI/GTIS Joint Ventures	0	0	(928,000)
Capital distributions from unconsolidated LGI/GTIS Joint Ventures	0	0	458,000
Proceeds from Sale of Property, Plant, and Equipment	0	0	35,000
Net cash used in investing activities	(1,117,000)	(16,364,000)	(31,259,000)
Cash flows from financing activities:
Proceeds from credit facilities	245,382,000	232,400,000	72,932,000
Payments on credit facilities	(154,786,000)	(43,531,000)	(52,042,000)
Payments of Debt Issuance Costs	(2,238,000)	(5,200,000)
Payment of Offering Costs	(419,000)
Proceeds from (Payments for) Other Financing Activities	(1,108,000)
Excess Tax Benefit Deficiencies From Share Based Compensation Financing Activities	47,000	(240,000)
Payments for Repurchase of Common Stock	0	(16,550,000)
Contributions from owners	0	0	2,535,000
Distributions to owners	0	0	(9,111,000)
Proceeds from sale of stock, net of offering expenses	9,593,000	0	102,636,000
Contributions from non-controlling interests	0	0	15,797,000
Net cash provided by financing activities	96,471,000	166,879,000	132,747,000
Net increase (decrease) in cash and cash equivalents	6,198,000	(22,699,000)	46,999,000
Cash and cash equivalents, beginning of year	31,370,000	54,069,000	7,070,000
Cash and cash equivalents, end of year	$ 37,568,000	$ 31,370,000	$ 54,069,000

Organization and Business	12 Months Ended
Organization and Business	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	ORGANIZATION AND BUSINESS Organization and Description of the Business LGI Homes, Inc. a Delaware corporation (the “Company”, “us,” “we,” or “our,”), was organized on July 9, 2013 as a holding company for the purposes of facilitating the initial public offering (the “IPO”) of its common stock in November 2013. The Company's principal business is the development of communities and the design, construction and sale of homes. At December 31, 2015, the Company had operations in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina South Carolina, Washington and Tennessee. Initial Public Offering and Reorganization Transactions On November 13, 2013, we completed the IPO and received net proceeds of $102.6 million. In conjunction with the IPO, the Company completed the reorganization of LGI Homes Group, LLC and LGI Homes Corporate, LLC and their consolidated subsidiaries and variable interest entities, as well as LGI Homes II, LLC, LGI Homes - Sunrise Meadow, LLC, LGI Homes - Canyon Crossing, LLC, and LGI Homes - Deer Creek, LLC, (collectively, the “Predecessor”) into LGI Homes, Inc. (the “Reorganization Transactions”). Immediate family members, a father and son (the “Family Principals”), individually or jointly owned more than 50% of the voting ownership interest of each entity comprising the Predecessor. The Predecessor entities and the Company were under common management, operated in the same business, and were controlled by the Family Principals immediately before and after the Reorganization Transactions. Following the reorganization, the entities that comprised the Predecessor are wholly-owned subsidiaries of the Company. The Reorganization Transactions were accounted for at the transaction date as a consolidation of entities under common control. In addition, since the Predecessor controlled LGI Fund III Holdings, LLC before and after the IPO, the Company accounted for the acquisition of the non-controlling interests as an equity transaction. The accompanying consolidated financial statements present the historical financial statements of the Predecessor as though they were owned by LGI Homes, Inc. prior to the Reorganization Transactions.

Acquisitions

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

Oakmont Acquisition

On October 2, 2014, we acquired certain home building assets and liabilities of Oakmont Home Builders, Inc. (“Oakmont”) and certain land positions of EST Properties, LLC, an affiliate of Oakmont (the “Oakmont Acquisition”). As a result of the Oakmont Acquisition, we established an immediate presence in residential homebuilding in the Charlotte, North Carolina, market acquiring 150 homes under construction and more than 1,000 owned and controlled lots. The total purchase price for the Oakmont Acquisition was approximately $17.3 million, consisting of approximately $15.2 million, in cash and a contingent earnout based on home closings through December 31, 2017. The fair value of the earnout at the acquisition date was estimated to be approximately $2.2 million.

The acquisition was accounted for in accordance with ASC Topic 805, “Business Combinations”, (“ASC 805”), and the acquired assets and assumed liabilities have been recorded at their estimated fair values at the acquisition date as noted below (amounts in thousands):



Purchase Consideration:	Total
Cash paid for net assets	$	15,169
Contingent consideration (earnout)	2,162
Total consideration	$	17,331
Assets acquired and liabilities assumed:
Real estate inventory	$	20,227
Pre-acquisition costs, deposits and other assets	177
Total Assets	$	20,404
Accounts payable and accrued liabilities	(2,682		)
Customer deposits	(391		)
Total Liabilities	(3,073		)
Net assets acquired	$	17,331

There were no significant intangible assets acquired in connection with the Oakmont Acquisition.

We determined the estimated fair values of the real estate inventory with the assistance of appraisals performed by independent third-party specialists, discounted cash flow analyses and estimates by management. The fair value of the earnout on the acquisition date of approximately $2.2 million was determined based on the forecasted number of home closings adjusted to reflect probability weighted absorption scenarios and a 10% discount rate. We estimated the earnout may be more or less than the $2.6 million undiscounted amount associated with homes to be closed from the acquired assets and the timing of the home closings and land development activities. The earnout liability is included in other liabilities on the consolidated balance sheet and is reassessed on a quarterly basis and subject to adjustment based on revisions to the forecasted absorption rate and the actual number of homes closed during the earnout period. No adjustment to the estimated earnout liability was necessary as of December 31, 2015.

Significant assumptions included in our estimates of the fair value of the assets acquired and the earnout include future development costs and the timing of the completion of development activities, absorption rates, mix of products sold in each community, and the discount rate. Based on the estimated purchase consideration, management believes that the purchase price for the Oakmont Acquisition was at market value and there was no excess of purchase price over the net fair value of assets acquired and liabilities assumed.

General and administrative expenses for the year ended December 31, 2014 include approximately $0.7 million of acquisition related costs for legal and due diligence services related to the Oakmont Acquisitions.

During the years ended December 31, 2015 and 2014, we closed 269 homes and 71 homes, respectively, subject to the earnout. The earnout is paid quarterly. As of December 31, 2015, we have paid $1.1 million to the sellers and the balance of the earnout liability is approximately $1.4 million, including approximately $0.3 million payable during the first quarter of 2016 for fourth quarter 2015 home closings.

LGI/GTIS Joint Venture Partners' Interests

Concurrent with the IPO, we acquired from GTIS Partners, LP and its affiliated entities (“GTIS”) all of GTIS’ equity interests in four unconsolidated joint ventures with the Predecessor, namely LGI-JV Holdings, LLC (formerly LGI-GTIS Holdings, LLC), LGI-JV Holdings II, LLC (formerly LGI-GTIS Holdings II, LLC), LGI-JV Holdings III, LLC (formerly LGI-GTIS Holdings III, LLC) and LGI-JV Holdings IV, LLC (formerly LGI-GTIS Holdings IV, LLC) (collectively, the “LGI/GTIS Joint Ventures”), in exchange for aggregate consideration of $41.3 million, consisting of cash of approximately $36.8 million and 409,091 shares of our common stock valued at $4.5 million on the IPO date (the “GTIS Acquisitions”). As discussed at Note 6, the LGI/GTIS Joint Ventures were historically accounted for as unconsolidated joint ventures under the equity method of accounting. As a result of the GTIS Acquisitions, we began consolidating the entities. As required by ASC 805, the acquired assets and assumed liabilities were accounted for at fair value and the Predecessor’s historical interests in the joint ventures were remeasured at fair value at the acquisition date.

In connection with the purchase accounting, we recorded a gain of $6.4 million on the re-measurement of the Predecessor’s equity interest in the LGI/GTIS Joint Ventures and $12.7 million of goodwill and other intangibles. In addition, there was a $7.9 million step-up adjustment to record the acquisition date real estate inventory and lot option contracts at fair value. Approximately $1.2 million, $2.9 million and $3.5 million of the $7.9 million fair value step-up adjustment is included in cost of sales for the years ended December 31, 2015, 2014 and 2013, respectively, related to real estate inventory and lot option contracts at November 13, 2013 that were sold during the respective periods. As of December 31, 2015 and 2014, a total of $7.6 million and $6.4 million of the step-up adjustment has been amortized to cost of sales, respectively.

In connection with the GTIS Acquisitions, certain rights to the LGI Homes trade name were reacquired. The fair value of this intangible asset was calculated based upon the forecasted revenues of the LGI/GTIS Joint Ventures using a relief-from-royalty valuation model. The intangible asset was valued at $0.7 million and is being amortized on a straight line basis over 3 years.

The supplemental pro forma information presented below (in thousands) presents the home sales revenues, cost of sales, and net income before income taxes for 2013 as if the GTIS Acquisitions date had been completed on January 1, 2012.



Unaudited Pro Forma Financial Information	For the Year Ended December 31, 2013
Home sales revenues	$	240,963
Cost of sales	$	179,831
Net income before income taxes	$	22,922

The pro forma results have been adjusted to reflect the elimination of the Predecessor's equity in earnings of the LGI/GTIS Joint Ventures. The pro forma results also reflect $0.2 million each year for the amortization expense related to the marketing intangible asset. The pro forma financial information excludes the impact of the gain on re-measurement and the incremental impact of the fair value step-up adjustment of real estate inventory and lot option contracts as these are considered to be non-recurring items.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and include the accounts of LGI Homes, Inc. and all of its subsidiaries subsequent to November 13, 2013, the closing date for the Reorganization Transactions and the IPO. All intercompany balances and transactions have been eliminated in consolidation. For the periods prior to the Reorganization Transactions, the accompanying consolidated financial statements include the accounts of LGI Homes, Inc. and the results of operations since the date of its formation, July 9, 2013, and the Predecessor's historical combined accounts and results of operations for January 1, 2013 to November 13, 2013. All intercompany balances and transactions have been eliminated in consolidation and all intracompany balances and transactions have been eliminated in combination. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and these differences could have a significant impact on the financial statements. The significant accounting estimates include real estate inventory and cost of sales, impairment of real estate inventory and property and equipment, goodwill, warranty reserves, our earnout liability, the fair value of the convertible debt, loss contingencies and our liability under our self-funded health benefit plan. Cash and Cash Equivalents and Concentration of Credit Risk Cash and cash equivalents are defined as cash on hand, demand deposits with financial institutions, and short-term liquid investments with an initial maturity date of less than three months. Our cash in demand deposit accounts may exceed federally insured limits and could be negatively impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, we have experienced no loss or diminished access to cash in their demand deposit accounts. Accounts Receivable Accounts receivable consist primarily of proceeds due from title companies for sales closed prior to period end and are generally collected within a few days from closing. Real Estate Inventory Inventory consists of land, land under development, finished lots, sales offices, homes in progress, and completed homes. Inventory is stated at cost unless the carrying amount is determined not to be recoverable, in which case the affected inventory is written down to fair value. Land, development and other project costs, including interest and property taxes incurred during development and home construction and net of expected reimbursements of development costs, are capitalized to real estate inventory. Land development and other common costs that benefit the entire community, including field construction supervision and related direct overhead, are allocated to individual lots or homes, as appropriate. The costs of lots are transferred to homes in progress when home construction begins. Home construction costs and related carrying charges are allocated to the cost of individual homes using the specific identification method. Costs that are not specifically identifiable to a home are allocated on a pro rata basis using either the lot size or relative sales value. Inventory costs for completed homes are expensed to cost of sales as homes are sold. Changes to estimated total development costs subsequent to initial home closings in a community are generally allocated to the remaining unsold lots and homes in the community on a pro rata basis. The life cycle of a community generally ranges from two to five years, commencing with the acquisition of land, continuing through the land development phase, and concluding with the construction and sale of homes. A constructed home is used as the community sales office during the life of the community and then sold. Actual individual community lives will vary based on the size of the community, the sales absorption rate, and whether the property was purchased as raw land or finished lots. In accordance with the ASC Topic 360, Property, Plant, and Equipment, real estate inventory is evaluated for indicators of impairment by each community during each reporting period. In conducting its review for indicators of impairment on a community level, management evaluates, among other things, the margins on homes that have been sold, communities with slow moving inventory, projected margins on future home sales over the life of the community, and the estimated fair value of the land. For individual communities with indicators of impairment, additional analysis is performed to estimate the community’s undiscounted future cash flows. If the estimated undiscounted future cash flows are greater than the carrying value of the community group of assets, no impairment adjustment is required. If the undiscounted cash flows are less than the community’s carrying value, the asset group is impaired and is written down to its fair value. We estimate the fair value of communities using a discounted cash flow model. As of December 31, 2015 and 2014, the real estate inventory is stated at cost; there were no inventory impairment charges recorded during the years ended December 31, 2015, 2014 and 2013. Capitalized Interest Interest and other financing costs are capitalized as cost of inventory during community development and home construction activities, in accordance with ASC Topic 835, Interest and expensed in cost of sales as homes in the community are sold. To the extent the debt exceeds qualified assets, a portion of the interest incurred is expensed. Pre-Acquisition Costs and Deposits Amounts paid for land options, deposits on land purchase contracts, and other pre-acquisition costs are capitalized and classified as deposits to purchase. Upon execution of the purchase, these deposits are applied to the acquisition price of the land and recorded as a cost component of the land in real estate inventory. To the extent that any deposits are nonrefundable and the associated land acquisition process is terminated or no longer determined probable, the deposit and related pre-acquisition costs are charged to general and administrative expense. Management reviews the likelihood of the acquisition of contracted lots in conjunction with its periodic real estate impairment analysis. Under ASC Topic 810, Consolidation (“ASC 810”), a nonrefundable deposit paid to an entity is deemed to be a variable interest that will absorb some or all of the entity's expected losses if they occur. Non-refundable land purchase and lot option deposits generally represent our maximum exposure if we elect not to purchase the optioned property. In some instances, we may also expend funds for due diligence, development and construction activities with respect to optioned land prior to close. Such costs are classified as preacquisition costs, which we would have to absorb should the option not be exercised. Therefore, whenever we enter into a land option or purchase contract with an entity and makes a nonrefundable deposit, it may have a variable interest in a variable interest entity (“VIE”). In accordance with ASC 810, we perform ongoing reassessments of whether we are the primary beneficiary of a VIE and would consolidate the VIE if we are deemed to be the primary beneficiary. As of December 31, 2015 and December 31, 2014, we were not deemed to be the primary beneficiary for any VIEs associated with non-refundable land deposit and option contracts. Deferred Loan Costs Deferred loan costs represent debt issuance costs and, depending on the nature and purpose of the loan, are capitalized to real estate inventory or amortized to interest expense using the straight-line method which approximates the effective interest method. Property and Equipment Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation. Depreciation expense is recorded in general and administrative expenses. Upon sale or retirement, the costs and related accumulated depreciation are eliminated from the respective accounts and any resulting gain or loss is included in other income, net. Depreciation is generally computed using the straight-line method over the estimated useful lives of the assets, ranging from 2 to 5 years for property and equipment. Leasehold improvements are depreciated over the shorter of the asset life or the term of the lease. Maintenance and repair costs are expensed as incurred. Impairments of long-lived assets are determined periodically when indicators of impairment are present. If such indicators are present, the determination of the amount of impairment is based on judgments as to the future undiscounted operating cash flows to be generated from these assets throughout the remaining estimated useful lives. If these undiscounted cash flows are less than the carrying amount of the related asset, impairment is recognized for the excess of the carrying value over its fair value. There were no impairments of property, equipment and leasehold improvements recorded during the years ended December 31, 2015, 2014 and 2013. Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs) The Predecessor functioned as the managing member of several joint ventures conducting homebuilding activities; these joint ventures became wholly-owned subsidiaries of us as a result of the Reorganization Transactions and the GTIS Acquisitions. In accordance with ASC 810, management had assessed whether these entities were VIEs. The Predecessor had variable interests in the joint venture arrangements that it managed, and these joint ventures were determined to be VIEs because the members of the joint ventures, as a group, had insufficient equity at risk without further capital contributions. The Predecessor’s rights as well as the rights held by the other joint venture members had been evaluated to determine the primary beneficiary of the VIE, including the extent of substantive participating rights and control of activities that most significantly affected its economic performance. Such activities included, but were not limited to, the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; and the ability to acquire additional land into the VIE. If the Predecessor was not able to control the significant decisions, the Predecessor was not considered the primary beneficiary of the VIE. If the Predecessor was determined to be the primary beneficiary of the VIE, the entity was consolidated in the Predecessor's financial statements. The Predecessor had investments in four joint ventures where the Predecessor and the other joint venture members were deemed to have joint control and the Predecessor was not the primary beneficiary since all major decisions required both parties’ consent. Accordingly, the Predecessor’s interests in these joint ventures were accounted for using the equity method and its share of the joint ventures’ net earnings was included in income from unconsolidated joint ventures and investments in unconsolidated joint ventures. Distributions received were credited against the related investment in the joint venture. In addition, the Predecessor had interests in two VIE’s (LGI Homes – Sterling Lakes, LLC and LGI Fund III Holdings, LLC) where it had been determined that the Predecessor was the primary beneficiary. In addition to the Predecessor serving as the managing member of these entities, the Family Principals of the Predecessor also held the general partner controlling interests in the non-managing members of the VIEs. As a result, the Predecessor combined with the Family Principals’ related party interests had the power to direct all significant activities of the VIEs, and had exposure to the risks and rewards of the VIEs, based on the division of income and loss pursuant to the joint venture agreement and the Predecessor’s ownership in the joint ventures. These two VIEs are consolidated in the accompanying consolidated financial statements. Management evaluated our investments in unconsolidated entities for indicators of impairment during each reporting period. No impairment charges were recorded related to investments in unconsolidated entities during the periods presented. Goodwill and Intangible Assets The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill in accordance with ASC 805. Goodwill and intangible assets that do not have finite lives are not amortized, but are assessed for impairment at least annually or more frequently if certain impairment indicators are present. We recorded $12.0 million of goodwill related to the GTIS Acquisitions. No goodwill impairment charges were recorded in 2015, 2014 and 2013. Warranty Reserves Future direct warranty costs are accrued and charged to cost of sales in the period when the related home is sold. Our warranty liability is based upon historical warranty cost experience and is adjusted as appropriate to reflect qualitative risks associated with the types of homes built, the geographic areas in which they are built, and potential impacts of our continued expansion. Warranty reserves are reviewed quarterly to assess the reasonableness and adequacy and to make adjustments to the balance of the pre-existing reserves, as needed, to reflect changes in trends and historical data as information becomes available. Customer Deposits Customer deposits are received upon signing a purchase contract and are generally $1,000 or less. Deposits are generally refundable if the customer is unable to obtain financing. Forfeited buyer deposits related to home sales are recognized in other income in the period in which it is determined that the buyer will not complete the purchase of the property and the deposit is nonrefundable to the buyer. Home Sales In accordance with ASC Topic 360—20, Real Estate Sales, revenues from home sales are recorded at the time each home sale is closed, title and possession are transferred to the buyer, and we have no significant continuing involvement with the home. Home sales proceeds are generally received from the title company within a few days after closing. Home sales are reported net of sales discounts and incentives granted to home buyers, which are primarily seller-paid closing costs. Cost of Sales As discussed under Real Estate Inventory above, cost of sales for homes closed include the construction costs of each home and allocable land acquisition and land development costs, capitalized interest, and other related common costs (both incurred and estimated to be incurred). Selling and Commission Costs Sales commissions are paid and expensed based on homes sold. Other selling costs are expensed in the period incurred. Advertising Costs Advertising and direct mail costs are expensed as incurred. Advertising and direct mail costs were $9.3 million, $8.6 million and $3.3 million for the years ended December 31, 2015, 2014, and 2013, respectively. Income Taxes LGI Homes, Inc. is a taxable entity. Prior to the Reorganization Transactions, the Predecessor consisted of limited liability companies and limited partnerships, all of which were treated as partnerships for income tax purposes and federal income taxes on taxable income or losses realized by the Predecessor were the obligation of the individual members or partners. As a result of the Reorganization Transactions, the Predecessor entities are subject to federal and state income taxes. The accompanying financial statements include a provision for income taxes based on the period when our operations are taxable. We utilize the liability method of accounting for income taxes. Under the liability method, deferred tax assets and liabilities are recognized using enacted tax rates for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the net deferred tax assets will not be realized. Our ability to realize deferred tax assets is assessed throughout the year and a valuation allowance is established, if required. We recognize the impact of a tax position only if it is more likely than not to be sustained upon examination based on the technical merits of the position. We recognize potential interest and penalties related to uncertain tax positions in income tax expense. We file income tax returns in the U.S. federal jurisdiction and in various states and does not have any unrecognized tax benefits. We are not presently under exam for income tax by any taxing jurisdiction, and no longer remains subject to exam for years before 2012 (2011 for Texas). Earnings Per Share Basic earnings per share is based on the weighted average number of shares of common stock outstanding. Diluted earnings per share is based on the weighted average number of shares of common stock and dilutive securities outstanding. Diluted earnings per share gives effect to all dilutive potential shares outstanding during the period using the treasury stock method and for our 4.25% Convertible Notes due 2019 (the “Convertible Notes”) using the if-converted method through April 29, 2015. On April 30, 2015, our stockholders approved the flexible settlement provisions of the Convertible Notes at our 2015 Annual Meeting of Stockholders which allows us to settle the conversion of the Convertible Notes using any combination of cash and shares of our common stock. Therefore, subsequent to April 30, 2015, the treasury stock method is used to calculate the dilutive effect of the Convertible Notes. Diluted earnings per share excludes all dilutive potential shares of common stock if their effect is antidilutive. Stock-Based Compensation Compensation costs for non-performance-based restricted stock awards are measured using the closing price of our common stock on the date of grant and are expensed on a straight-line basis over the vesting period of the award. Compensation costs for performance-based restricted stock awards are also measured using the closing price of our common stock on the date of grant but are expensed in accordance with ASC 718-10-25-20, Compensation - Stock Compensation, which requires an assessment of probability of attainment of the performance target. Once the performance target outcome is determined to be probable, the cumulative expense is recorded and the remaining expense is recorded on a straight-line basis through the end of the award's vesting period. Recently Issued Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, “Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”) as part of its initiative to reduce complexity in accounting standards (the “Simplification Initiative”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts and does not affect the recognition and measurement guidance for debt issuance costs. ASU 2015-03 will be effective for us beginning January 1, 2016. We currently present deferred financing costs within other assets. Accordingly, the adoption of the new guidance will result in the reclassification of debt issuance costs as an offset to the related debt on the balance sheet, which we do not expect to be material to our consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”), which amends the consolidation requirements in ASC 810, primarily related to limited partnerships and variable interest entities (“VIEs”). ASU 2015-02 will be effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2015-02 is not expected to have a material effect on our consolidated financial statements and disclosures. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to evaluate, at each reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. This ASU applies to all entities and is effective for periods ending after December 15, 2016. The adoption of ASU 2014-15 is not expected to have any effect on our consolidated financial statements or disclosures. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition,” and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” ASU 2014-09’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective beginning January 1, 2018 and, at that time, we may adopt the new standard under the full retrospective approach or the modified retrospective approach. Early adoption of this ASU is not permitted. We are currently evaluating the method and impact the adoption of ASU 2014-09 will have on our consolidated financial statements and disclosures.

Real Estate Inventory

12 Months Ended

Dec. 31, 2015

Inventory Disclosure [Abstract]

Real Estate Inventory

REAL ESTATE INVENTORY

Our real estate inventory consists of the following (in thousands):



	December 31,
	2015		2014
Land, land under development, and finished lots	$	320,320	$	244,658
Sales offices	8,083		6,978
Homes in progress	109,451		55,807
Completed homes	93,374		60,465
Total real estate inventory	$	531,228	$	367,908

Interest and financing costs incurred under our debt obligations, as more fully discussed in Note 9, are capitalized to qualifying real estate projects under development and homes under construction.

Property and Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment consist of the following (in thousands):



		December 31,
	Asset Life	2015			2014
	(years)
Computer equipment	2-5	$	1,237		$	738
Machinery and equipment	5	53			52
Furniture and fixtures	2-5	2,132			1,557
Leasehold improvements	various	240			230
Total property and equipment		3,662			2,577
Less: Accumulated depreciation		(1,554		)	(967		)
Property and equipment, net		$	2,108		$	1,610

Depreciation expense incurred for the years ended December 31, 2015, 2014 and 2013 was $0.6 million, $0.4 million and $0.3 million, respectively.

A non-cash settlement of vehicle notes payable in the amount of $0.3 million was recorded for a trade or assumption by the purchaser during the year ended December 31, 2013.

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests

12 Months Ended

Dec. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests

INVESTMENTS IN JOINT VENTURES, VARIABLE INTEREST ENTITIES AND NON-CONTROLLING INTERESTS

Unconsolidated Joint Ventures

Prior to the GTIS Acquisitions, the Predecessor's interests in four joint ventures LGI/GTIS Joint Ventures, were accounted for using the equity method of accounting since the Predecessor was not deemed to be the primary beneficiary of these variable interest entities.

The LGI/GTIS Joint Ventures were each engaged in homebuilding and land development activities. GTIS Partners, LP and affiliated entities (collectively “GTIS”) were joint venture members in these entities. Management of each of the LGI/GTIS Joint Ventures was vested in the members, being the Predecessor and GTIS. The Predecessor was considered the managing member of these entities. The managing member had the responsibility and authority to operate the LGI/GTIS Joint Ventures on a day-to-day basis subject to the operating budget and business plan, which was approved by both members. The Predecessor used its sales, development and operations teams to support operations and had significant influence even though the respective joint venture members had been deemed to have joint control under ASC Topic 810. All major decisions required both members’ consent. Major decisions included, but were not limited to: the acquisition or disposition of a project; capital contributions; and changes, and updates or amendments to the operating budget or business plan. Generally, the LGI/GTIS Joint Ventures did not obtain construction financing from outside lenders, but financed their activities primarily through equity contributions from each of the joint venture members.

Profits were allocated to the members of the LGI/GTIS Joint Ventures based on the predetermined formulas specified in the joint venture agreements for the allocation of distributable cash. The GTIS member and the Predecessor were allocated 85% and 15% of the profits, respectively, (the “Sharing Percentages”) until such time as the members received cash distributions equal to their initial capital investment plus, generally, a 15% internal rate of return (“First Tier Return”). Subsequent allocations of distributable cash and profits included a priority allocation of approximately 20% to 40% to the Predecessor, depending on the amount of cash distributions achieved over the life of the joint venture.

Since the internal rates of return necessary to receive a higher proportion of distributions were calculated over the life of each LGI/GTIS Joint Venture and both the timing and amount of future contributions and distributions would affect the Predecessor’s share of distributions, there was no certainty that the Predecessor would receive greater than 15% of the LGI/GTIS Joint Ventures’ distributions. Therefore, the Predecessor recorded its investments in the LGI/GTIS Joint Ventures at 15% of each venture’s capital balance and recognized the incremental amounts due to the Predecessor as a result of reaching the higher distribution tiers only when received.

During the period ended November 13, 2013, LGI-GTIS Holdings, LLC, LGI-GTIS Holdings II, LLC and LGI-GTIS Holdings III, LLC achieved the Third-Tier Return resulting in the priority allocations to the Predecessor of up to approximately 40%. As of November 13, 2013, LGI-GTIS Holdings IV, LLC had not achieved the First-Tier Return. During the period ended November 13, 2013, the Predecessor recognized $2.7 million in priority distributions from the LGI/GTIS Joint Ventures. The LGI/GTIS Joint Ventures were acquired on November 13, 2013 and as such there were no further distributions or contributions.

A summarized condensed statement of operations of the LGI/GTIS Joint Ventures accounted for using the equity method is presented below for the period through the date of the GTIS Acquisitions (in thousands):



	Period Ended November 13,
Statement of Operations	2013
Home sales	$	80,896
Cost of sales	$	58,718
Net earnings of unconsolidated entities	$	10,873
Predecessor's share in net earnings of unconsolidated entities	$	4,287

Consolidated Joint Ventures

Two consolidated joint ventures, engaged in homebuilding and land development activities, were determined to be VIEs and the Predecessor was deemed to be the primary beneficiary under ASC Topic 810. LGI Fund III Holdings, LLC was formed March 31, 2013, and LGI Homes Group, LLC was the managing member; this entity became a wholly-owned subsidiary of us on November 13, 2013, as a result of our acquisition of the non-controlling interests in the joint venture as part of the Reorganization Transactions (See Note 1).

Historically, profits were allocated to the members of the consolidated joint ventures based on the predetermined formulas specified in the joint venture agreements for the allocation of distributable cash. The non-managing members and the Predecessor were allocated 85% and 15% of the profits, respectively, (the “Sharing Percentages”) until such time as the members received cash distributions equal to their initial capital investment plus, generally, a 15% internal rate of return (“First Tier Return”). Subsequent allocations of distributable cash and profits included a priority allocation of approximately 20% to 40% to the Predecessor’s member, depending on the amount of cash distributions achieved over the life of the joint venture.

Other Assets

12 Months Ended

Dec. 31, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

OTHER ASSETS

Other assets consist of the following (in thousands):



	December 31,
	2015		2014
Deferred loan costs	$	3,631	$	3,732
Prepaid insurance	1,301		1,176
Prepaid expenses	9,024		1,497
Security deposits	913		1,110
Total other assets	$	14,869	$	7,515

Accrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2015

Payables and Accruals [Abstract]

Accrued Expenses and Other Liabilities

ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued and other current liabilities consist of the following (in thousands):



	December 31,
	2015		2014
Inventory related obligations	$	17,389	$	7,275
Retentions payable	3,036		2,696
Accrued compensation, bonuses and benefits	5,573		2,434
Earnout liability	1,425		2,196
Taxes payable	6,205		1,448
Warranty reserve	1,325		900
Other	5,053		4,416
Total accrued expenses and other liabilities	$	40,006	$	21,365

Inventory Related Obligations

We own lots in certain communities in Florida, Arizona, and Texas that have Community Development Districts (“CDD”) or similar utility and infrastructure development special assessment programs that allocate a fixed amount of debt service associated with development activities to each lot. This obligation for infrastructure development is attached to the land, is typically payable over a 30 year period, and is ultimately assumed by the homebuyer when home sales are closed. Such obligations represent a non-cash cost of the lots. At December 31, 2015 and 2014, we had CDD and other utility development obligations of approximately $17.4 million and $7.3 million, respectively.

Estimated Warranty Reserve

We typically provide homebuyers with a one-year warranty on the house and a ten-year limited warranty for major defects in structural elements such as framing components and foundation systems. The Predecessor provided similar warranty services for homes sold by the LGI/GTIS Joint Ventures prior to the GTIS Acquisitions (see Note 13).

Changes to our warranty accrual are as follows (in thousands):



	December 31,
	2015			2014			2013
Warranty reserves, beginning of year	$	900		$	630		$	450
Warranty provision	1,608			1,179			764
Warranty reserve acquired in GTIS Acquisitions	—			—			30
Warranty expenditures	(1,183		)	(909		)	(614		)
Warranty reserves, end of year	$	1,325		$	900		$	630

Notes Payable

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Notes Payable

NOTES PAYABLE

Revolving Credit Agreement

In May 2015, we entered into a credit agreement (the “Credit Agreement”) with several financial institutions, and Wells Fargo Bank, National Association, as administrative agent. The Credit Agreement provides for a $225.0 million revolving credit facility, which could be increased upon our request up to $300.0 million. On November 6, 2015, amounts available to us under the Credit Agreement were increased by $30.0 million to $255.0 million in accordance with the accordion feature of the Credit Agreement. See footnote 19 for a subsequent increase in the borrowing capacity under the Credit Agreement.

The Credit Agreement matures on May 26, 2018. Prior to each annual anniversary of the Credit Agreement, we may request a one-year extension of the maturity date. The Credit Agreement is guaranteed by each of our subsidiaries having gross assets equal to or greater than $0.5 million. Prior to the occurrence of a trigger event under the Credit Agreement, the revolving credit facility is unsecured except that the facility is secured by a first priority lien in land held for development, lots under development and/or finished lots with an aggregate land value of at least $35.0 million. As of December 31, 2015, the borrowing base was $255.0 million, of which $230.0 million was outstanding, $3.4 million represents letter of credit assurances, and the remaining $21.6 million was available to borrow.

Interest on borrowings under the Credit Agreement is paid monthly at LIBOR plus 3.50%. The Credit Agreement applicable margin for LIBOR loans ranges from 3.00% to 3.50% based on our leverage ratio. At December 31, 2015 LIBOR was 0.36%.

The Credit Agreement contains various financial covenants, including a tangible net worth ratio, a leverage ratio, a minimum liquidity amount, and an EBITDA to interest expense ratio. The Credit Agreement also prohibits us from making any investments except as permitted under the Credit Agreement. In addition, the Credit Agreement contains various covenants that, among other restrictions, limit the amount of our additional debt. At December 31, 2015, we were in compliance with all of the covenants contained in the Credit Agreement.

Convertible Notes

In November 2014, we issued $85.0 million aggregate principal amount of its 4.25% Convertible Notes due 2019. The Convertible Notes mature on November 15, 2019 and bear interest at a rate of 4.25%, payable semiannually each year, beginning on May 15, 2015. Prior to May 15, 2019, the Convertible Notes will be convertible only upon satisfaction of any of the specified conversion events. On or after May 15, 2019, note holders can convert their Convertible Notes at any time at their option.

When issued, the conversion of the Convertible Notes could only be settled in shares of our common stock. On April 30,

2015 at our 2015 Annual Meeting of Stockholders, our stockholders approved the flexible settlement provisions of the Convertible Notes which allows us to settle the conversion of our Convertible Notes using any combination of cash and shares of our common stock. The initial conversion rate of the Convertible Notes is 46.4792 shares of Company common stock for each $1,000 principal amount of Convertible Notes, which represents an initial conversion price of approximately $21.52 per share of Company common stock. The conversion rate is subject to adjustments upon the occurrence of specific events.

ASC Topic 470-20, Debt with Cash Conversion and Other Options, requires the issuer of convertible debt that may be settled wholly or partially in shares or cash upon conversion, such as the Convertible Notes, to separately account for the liability (debt) and equity (additional paid-in capital) components in a manner reflective of the issuers’ nonconvertible debt borrowing rate. The issuance of the Convertible Notes was recorded at the issuance date fair value of $76.5 million. The fair value was determined using a discount rate of 6.6% based on the rate of return investors would require for a similar liability without the equity component, and reflects an $8.5 million discount. $5.5 million of the remaining proceeds were recorded to additional paid-in capital to reflect the equity component of the Convertible Notes and $3.0 million was recorded as a deferred tax liability. The carrying amount of the Convertible Notes is being accreted over the term to maturity. The net proceeds from the offering of the Convertible Notes were approximately $82.0 million; of the $3.0 million of debt issuance costs, $2.7 million were allocated to the liability component and the remaining $0.3 million was allocated as an offset to the equity component of the Convertible Notes.

As of December 2015, we incurred approximately $1.5 million of discount accretion, $3.6 million of coupon interest, and $0.5 million of debt issuance cost amortization. As of December 31, 2014, we incurred approximately $0.2 million of discount accretion, $0.4 million of coupon interest, and $0.1 million of debt issuance cost amortization. Interest and amortization of Convertible Notes discount and issuance costs are capitalized as cost of inventory: see the Capitalized Interest table below. At December 31, 2015, notes payable in our accompanying consolidated financial statements include $78.2 million representing the accreted principal amount of the Convertible Notes.

Concurrent with the issuance of the Convertible Notes, we utilized approximately $16.6 million of the net proceeds from the sale of the Convertible Notes to repurchase 1.0 million shares of Company common stock to be held as treasury stock. The remaining net proceeds from issuance of the Convertible Notes have been used for the purchase of land and lots and general corporate purposes, including repayment of borrowings under our revolving credit facility.

Notes payable consist of the following (in thousands):



	December 31,
	2015		2014
Notes payable to Wells Fargo Bank, National Association and several financial institutions under the Credit Agreement ($255.0 million revolving credit facility) maturing on May 26, 2018; interest paid monthly at LIBOR plus 3.50%; collateralized by certain land, land under development, and finished lots (carrying value of $63.0 million at December 31, 2015)	$	230,000	$	—
Notes payable to Texas Capital Bank, National Association and a syndication of lenders under the Credit Agreement ($200.0 million secured revolving credit facility) repaid and terminated on May 27, 2015; interest paid monthly at LIBOR plus 2.75%, with a LIBOR floor of 1.00%	—		139,404
4.25% Convertible Notes due November 15, 2019; interest paid semi-annually at 4.25%; net of approximately $6.8 million and $8.3 million in unamortized discount at December 31, 2015 and December 31, 2014, respectively	78,192		76,695
Total notes payable	$	308,192	$	216,099

As of December 31, 2015, the annual aggregate maturities of our notes payable during each of the next five fiscal years are as follows (amounts in thousands):



	Amount
2016	$	—
2017	—
2018	230,000
2019	85,000
2020	—
Total notes payable	315,000
Less: Convertible Notes discount	(6,808		)
Net notes payable	$	308,192

Capitalized Interest

Interest activity, including other financing costs, for notes payable for the periods presented is as follows (in thousands):



	Year Ended December 31,
	2015			2014			2013
Interest incurred	$	14,198		$	6,026		$	1,378
Less: Amounts capitalized	(14,198		)	(6,026		)	(1,327		)
Interest expense	$	—		$	—		$	51

Cash paid for interest	$	9,766		$	4,109		$	1,220

Included in interest incurred was amortization of deferred financing costs for notes payable and amortization of Convertible Notes discount of $3.9 million and $1.3 million for the years ended December 31, 2015 and 2014, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

All Company operations are domestic. The provision for income taxes consisted of the following (in thousands):



	Year ended December 31,
	2015		2014			2013
Current:
Federal	$	24,990	$	13,266		$	841
State	2,419		1,606			513
Current tax provision	27,409		14,872			1,354
Deferred:
Federal	33		—			(265		)
State	8		(4		)	(23		)
Deferred tax benefit	41		(4		)	(288		)
Total income tax provision	$	27,450	$	14,868		$	1,066

Income taxes paid were $23.7 million, $15.2 million and $0.1 million for the years ended December 31, 2015, 2014, and 2013, respectively.

Prior to the Reorganization Transactions, the Predecessor consisted of limited liability companies and limited partnerships, all of which were treated as partnerships for income tax purposes. However, as a result of the Reorganization Transactions, the Predecessor entities are subsidiaries of us, thereby becoming subject to federal and certain state taxes beginning November 13, 2013. As a result of this tax status change, we recorded a net deferred tax liability and a one-time non-cash charge of $0.2 million included in the income tax provision in 2013. In addition, the remeasurement of the Predecessor’s historical interests in the LGI/GTIS Joint Ventures generated approximately $4.8 million of excess book goodwill primarily attributable to the Predecessor’s carryover basis in the joint ventures’ assets and liabilities that is not deductible for federal income tax purposes. This excess goodwill is not amortizable for tax purposes.

A reconciliation of the provision for income taxes for 2015 and 2014 and the amount computed by applying the statutory federal income tax rate of 35% to income before provision for income taxes for the years ended December 31, 2015, 2014 and 2013 (in thousands):



	Year Ended December 31,
	2015					2014					2013
Tax at federal statutory rate	$	28,098		35.0	%	$	15,078		35	%		$	7,981		35.0	%
State income taxes (net of federal benefit)	1,568			2.0		1,037			2.4	%		439			1.9
Domestic production activity deduction	(2,462		)	(3.1	)	(1,294		)	(3	)%		(88		)	(0.4	)
Non deductible expenses and other	237			0.3		47			0.1	%		1			0.1
Change in tax status of entity - deferred taxes	9			—		—			—	%		245			1.1
Non-taxable - gain on remeasurement	—			—		—			—	%		(2,256		)	(9.9	)
Income attributable to partnerships - nontaxable	—			—		—			—	%		(5,256		)	(23.1	)
Tax at effective rate	$	27,450		34.2	%	$	14,868		34.5	%		$	1,066		4.7	%

The components of net deferred tax assets and liabilities at December 31, 2015 and December 31, 2014, are as follows (in thousands):



	December 31
	2015			2014
Deferred tax assets:
Accruals and reserves	$	1,741		$	913
Inventory	536			527
Compensation related to RSUs	176			373
Deferred loan costs	84			108
Deferred Rent	44			43
Total deferred tax assets	2,581			1,964
Deferred tax liabilities:
Discount on Convertible Notes	(2,486		)	(3,079		)
Prepaids	(2,078		)	(1,018		)
Tax depreciation in excess of book depreciation	(441		)	(350		)
Goodwill and other assets amortized for tax	(302		)	(202		)
Total deferred tax liability	$	(5,307	)	$	(4,649	)
Total net deferred tax liability	$	(2,726	)	$	(2,685	)

Equity

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Equity

EQUITY

We are authorized to issue 250,000,000 shares of common stock, par value $0.01 per share, and 5,000,000 shares of preferred stock, par value $0.01 per share. As of December 31, 2015 and 2014, no shares of preferred stock were issued or outstanding.

At December 31, 2014 we had 20,849,044 shares of common stock issued and 19,849,044 shares of common stock outstanding, including 1.0 million treasury shares of our common stock purchased November 21, 2014 at $16.55 per share. At December 31, 2015 we had 21,270,389 shares of common stock issued and 20,270,389 shares of common stock outstanding.

Shelf Registration Statement and ATM Offering Program

We filed a shelf registration statement on Form S-3 (the “Registration Statement”) to offer and sell from time to time various securities with a maximum offering price of $300.0 million. The Registration Statement was declared effective in August 2015. Under the Registration Statement, we established an at the market common stock offering program (the “ATM Program”) in August 2015 with Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, JMP Securities LLC and Builder Advisor Group, LLC, as sales agents. Under the ATM Program, we may issue and sell from time to time shares of our common stock having an aggregate offering price of up to $30.0 million. We issued and sold 345,760 shares of our common stock under the ATM Program and received net proceeds of approximately $9.6 million during the year ended December 31, 2015.

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the year ended December 31, 2015 and 2014 and from November 13, 2013 to December 31, 2013. Earnings per share is not computed for the period prior to the closing date of the IPO because the Predecessor consisted of limited liability companies and limited partnerships and LGI Homes, Inc. did not have operations.



	For the year Ended December 31,				For the Period from November 13, 2013 - December 31, 2013
	2015		2014		For the Period from November 13, 2013 - December 31, 2013
Numerator (in thousands):
Numerator for basic earnings per share	$	52,830	$	28,211	$	7,110
Effect of dilutive securities:
Interest expense associated with Convertible Notes, net of taxes	190		7		—
Numerator for diluted earnings per share	$	53,020	$	28,218	$	7,110
Denominator:
Basic weighted average shares outstanding	19,939,761		20,666,758		20,763,449
Effect of dilutive securities:
Convertible Notes - treasury stock method	463,609		—		—
Convertible Notes - if-converted method	1,298,871		432,957		—
Restricted stock units	38,478		103,252		70,675
Diluted weighted average shares outstanding	21,740,719		21,202,967		20,834,124

Basic earnings per share	$	2.65	$	1.37	$	0.34
Diluted earnings per share	$	2.44	$	1.33	$	0.34
Antidilutive non-vested restricted stock units excluded from calculation of diluted earnings per share	23,201		3,022		$	—

In accordance with ASC 260-10, Earnings Per Share, we calculated the dilutive effect of the Convertible Notes using the “if-converted” method through April 30, 2015. The interest expense related to the Convertible Notes through April 30, 2015 is the amount included in cost of sales. On April 30, 2015, our stockholders approved the flexible settlement provisions of the Convertible Notes at our 2015 Annual Meeting of Stockholders which allows us to settle the conversion of the Convertible Notes using any combination of cash and shares of our common stock. Therefore, subsequent to April 30, 2015, the treasury stock method is used to calculate the dilutive effect of the Convertible Notes, since we have the intent and ability to settle the principal amount of the outstanding Convertible Notes in cash. Under the treasury stock method, the Convertible Notes have a dilutive impact on diluted earnings per share to the extent that the average market price of our common stock for a reporting period exceeds the conversion price of $21.52 per share.

Predecessor's Owners' Equity

The following table reflects the activity and balances in the owners’ equity of the Predecessor prior to the Reorganization Transactions (in thousands):



	LGI Homes Group, LLC Members’ Capital			LGI Homes Corporate, LLC Members’ Capital			LGI Homes- Deer Creek, LLC Members’ Capital		Other Partnerships’ Capital			Total Owners’ Equity
BALANCE—DECEMBER 31, 2012	$	17,155		$	3,431		$	—	$	4,625		$	25,211
Net income	11,892			1,884			—		1,441			15,217
Contributions	—			2,500			—		35			2,535
Distributions	(6,969		)	(1,469		)	—		(673		)	(9,111		)
BALANCE—NOVEMBER 13, 2013	$	22,078		$	6,346		$	—	$	5,428		$	33,852

LGI Homes Group, LLC is a Texas limited liability company formed in March 2011. EDSS Holdings, LP, a limited partnership wholly-owned by the Family Principals, owned 50.125% of LGI Homes Group, LLC, and LGI Investment Fund II, LP, owned the remaining 49.875%. LGI Investment Fund II, LP was formed as a Texas limited partnership in June 2011. LGI Fund II GP, LLC was the 1% general partner. LGI Fund II GP, LLC is wholly-owned by the Family Principals. The limited partners were various investors.

In March 2013, LGI Homes Group, LLC formed LGI Fund III Holdings, LLC (a joint venture consolidated in the accompanying financial statements) with LGI Investment Fund III, LP (see Note 6). LGI Homes Group, LLC was the managing member. The LGI Investment Fund III, LP was formed as a Texas limited partnership in February 2013. LGI Fund III GP, LLC was the 1% general partner. LGI Fund III GP, LLC is wholly-owned by Eric Lipar. The limited partners were various investors. In accordance with the terms of the formation of LGI Investment Fund III, LP, the limited partnership exchanged its 85% ownership in LGI Fund III Holdings, LLC for approximately 1.5 times the investment amount upon completion of the IPO and as part of the Reorganization Transactions.

LGI Homes Corporate, LLC is a Texas limited liability company formed in March 2010 and was wholly-owned and managed by the Family Principals prior to the Reorganization Transactions.

LGI Homes—Deer Creek, LLC is a Texas limited liability company formed in June 2009 and was wholly-owned and managed by the Family Principals prior to the Reorganization Transactions.

The Other Partnerships included in the accompanying consolidated financial statements and aggregated in the above table are:

•

LGI Homes II, LLC, formerly LGI Homes, Ltd. and JTM Housing, Ltd., was formed as a Texas limited partnership in December 2002, renamed as LGI Homes, Ltd. in October 2004 and LGI Homes II, LLC in November 2013. LGI GP, LLC, a wholly-owned Texas limited liability company formed in 2002 as a wholly-owned subsidiary of LGI Holdings, LLC, was the 1% general partner of LGI Homes II, LLC. The limited partner was 99% owned by the Family Principals prior to the Reorganization Transactions.


•	LGI Homes - Sunrise Meadow, LLC, formerly LGI Homes - Sunrise Meadow, Ltd. was formed as a Texas limited partnership in February 2005 and renamed as LGI Homes - Sunrise Meadow, LLC in November 2013. LGI GP, LLC, was the 1% general partner. The entity was wholly-owned and managed by the Family Principals prior to the Reorganization Transactions.


•	LGI Homes - Canyon Crossing, LLC, formerly LGI Homes - Canyon Crossing, Ltd. was formed as a Texas limited partnership in May 2005 and renamed as LGI Homes - Canyon Crossing, LLC in November 2013. LGI GP, LLC, was the 1% general partner. The entity was wholly-owned and managed by the Family Principals prior to the Reorganization Transactions.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
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-Name Accounting Standards Codification
-Topic 210
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-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

Non-performance Based Restricted Stock Units

As approved by our stockholders, we adopted the LGI Homes, Inc. 2013 Equity Incentive Plan (the “2013 Incentive Plan”) to reward, retain and attract key personnel. At December 31, 2015, 2,000,000 shares of our common stock had been reserved for issuance pursuant to the 2013 Incentive Plan.

The following table summarizes the activity of our restricted stock units (“RSUs”):



	Shares		Weighted Average Grant Date Fair Value
Balance at January 1, 2013	—		$	—
Granted	140,222		$	11.00
Balance at December 31, 2013	140,222		$	11.00
Granted	82,441		$	16.52
Vested	(116,543	)	$	11.00
Forfeited	(3,334	)	$	11.00
Balance at December 31, 2014	102,786		$	15.43
Granted	85,184		$	17.40
Vested	(75,687	)	$	16.12
Forfeited	(4,469	)	$	15.85
Balance at December 31, 2015	107,814		$	16.48

In March 2015, we issued 56,611 RSUs for 2014 bonuses to certain officers and managers under the Annual Bonus Plan. The RSUs vest over three years and will be settled in shares of our common stock. In March 2014, we issued 37,307 RSUs to certain officers and managers under the Annual Bonus Plan; the RSUs had a one-year vesting period and could be settled only in shares of the our common stock. In addition, during the year ended December 31, 2015 and 2014, we issued 28,573 and 45,134 RSUs, respectively, to certain employees, executives and non-employee directors which vest over periods ranging from one to three years. The RSUs could be settled only in shares of our common stock.

We recognized $0.5 million of stock-based compensation expense related to outstanding RSUs grants for both the years ended December 31, 2015 and 2014 and $42,814 for the year ended December 31, 2013. At December 31, 2015, we had unrecognized compensation cost of $1.3 million related to unvested RSUs, which is expected to be recognized over a weighted average period of 2.3 years.

Performance Based Restricted Stock Units

The Compensation Committee of our Board of Directors has granted awards of Performance-Based RSUs (“PSUs”) under the 2013 Incentive Plan to certain members of senior management for each of the three-year performance cycles: 2014 - 2016 and 2015 - 2017. The PSUs provide for shares of our common stock to be issued based on the attainment of certain performance metrics over the applicable three year period. The number of shares of our common stock that may be issued to the recipients for the PSUs range from 0% to 200% of the target amount depending on actual results as compared to the target performance metrics. The PSUs vest upon the determination date for the actual results at the end of the three-year period and require that the recipients continue to be employed by us through the determination date. The PSUs will be settled in shares of our common stock.



Period Granted	Target PSUs Outstanding December 31, 2014	Target PSUs Granted	Target PSUs Vested	Target PSUs Forfeited	Target PSUs Outstanding at December 31, 2015	Weighted Average Grant Date Fair Value
2014	62,906	—	—	—	62,906	$	17.09
2015	—	127,111	—	—	127,111	$	13.34
Total	62,906	127,111	—	—	190,017

At December 31, 2015, management estimates that the recipients will receive approximately 170% and 183% of the 2014 and 2015 target number of PSUs, respectively, at the end of the applicable three-year performance cycle. We recognized $1.8 million and $0.3 million of total stock-based compensation expense related to outstanding Performance-Based RSUs grants for the year ended December 31, 2015 and 2014, respectively. At December 31, 2015, we had unrecognized compensation cost of $2.8 million, based on the target amount, related to unvested Performance-Based RSUs, which is expected to be recognized over a weighted average period of 1.4 years.

Fair Value Disclosure Fair Value Disclosure

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

FAIR VALUE DISCLOSURES

ASC Topic 820, Fair Value Measurements (“ASC 820”), defines fair value as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date” within an entity’s principal market, if any. The principal market is the market in which the reporting entity would sell the asset or transfer the liability with the greatest volume and level of activity, regardless of whether it is the market in which the entity will ultimately transact for a particular asset or liability or if a different market is potentially more advantageous. Accordingly, this exit price concept may result in a fair value that differs from the transaction price or market price of the asset or liability.

ASC 820 provides a framework for measuring fair value under GAAP, expands disclosures about fair value measurements, and establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of the fair value hierarchy are summarized as follows:

Level 1 - Fair value is based on quoted prices in active markets for identical assets or liabilities.

Level 2 - Fair value is determined using significant observable inputs, generally either quoted prices in active markets for

similar assets or liabilities, or quoted prices in markets that are not active.

Level 3 - Fair value is determined using one or more significant inputs that are unobservable in active markets at the

measurement date, such as a pricing model, discounted cash flow, or similar technique.

We utilize fair value measurements to account for certain items and account balances within our consolidated financial statements. Fair value measurements may also be utilized on a nonrecurring basis, such as for the impairment of long-lived assets. The fair value of financial instruments, including cash and cash equivalents and accounts receivable and accounts payable, approximate their carrying amounts due to the short term nature of these instruments. As of December 31, 2015, the revolving credit facility's carrying value approximates market value since it has a floating interest rate, which increases or decreases with market interest rates.

The Convertible Notes, as discussed in Note 9, were initially recorded at estimated fair value determined using Level 2 measurements. The fair value of the assets acquired and liabilities assumed as part of the Oakmont Acquisition and GTIS Acquisitions, as discussed in Note 2, were determined using Level 2 or Level 3 measurements. In addition, the Predecessor’s historical interests in the LGI/GTIS Joint Ventures were adjusted to fair value determined using Level 3 unobservable assumptions and valuation inputs.

The following table below shows the level and measurement of liabilities at December 31, 2015 and 2014 (in thousands):



		December 31, 2015				December 31, 2014
	Fair Value Hierarchy	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value

Convertible Notes	Level 2	$	78,192	$	74,449	$	76,695	$	76,695
Earnout liability	Level 3	$	1,425	$	1,425	$	2,196	$	2,196

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Land Purchases We have an option contract to purchase 106 finished lots in Montgomery County, Texas, from an affiliate of a Family Principal for a total base purchase price of approximately $8.0 million. The lots will be purchased in takedowns of at least 21 lots during each successive 6 month period, subject to 5% annual price escalation and certain price protection terms. We had a $25,000 non-refundable deposit at December 31, 2015 related to this option contract. We expect the first closing of lots under the option contract will take place in the first quarter of 2016. On July 11, 2014, we acquired approximately 1,902 acres of land located in Lancaster County, South Carolina, from an entity owned and managed by a Family Principal, for an aggregate purchase price of approximately $15.4 million. The purchase price was based on a third party appraisal. Consulting Fees Concurrent with the closing of the IPO on November 13, 2013, we entered into a three-year consulting agreement with a Family Principal for $100,000 per year payable on a monthly basis. Consulting fees were approximately $100,000 for each of the years ended December 31, 2015 and 2014 and $17,000 for the year ended December 31, 2013, respectively. Management and Warranty Fees The Predecessor had a Management Services Agreement with each of the LGI/GTIS Joint Ventures. The Predecessor provided administration, supervision, marketing, and various other services for the joint ventures. The Predecessor charged the joint ventures a management fee of approximately 3% of home sale revenues and 3% of construction costs for the development of land, as applicable. The management and construction fees were in addition to direct costs charged to the joint ventures. Management fees earned under the agreements were $2.6 million for the year ended December 31, 2013. The Predecessor collected a warranty fee of $250 from the LGI/GTIS Joint Ventures upon the closing of the sale of each home and provided a Home Builder’s Limited Warranty to the buyer of each home. The Predecessor was responsible for the performance and discharge of any warranty claims asserted against the joint ventures or the GTIS member. Warranty fees earned were $0.1 million for the year ended December 31, 2013.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Retirement Benefits Retirement Benefits	12 Months Ended
Retirement Benefits Retirement Benefits	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	RETIREMENT BENEFITS Our employees are eligible to participate in a 401(k) savings plan. Employees are eligible to participate after completing ninety days of service and having attained the age of 21. Salary deferrals are allowed in amounts up to 100% of an eligible employee’s salary, not to exceed the maximum allowed by law. A discretionary match may be made by us of up to 100% of the first 3% of an eligible employee’s deferral, not to exceed $3,000. For each of the years ended December 31, 2015, 2014 and 2013, our matching contributions were $0.5 million, $0.3 million and $0.1 million, respectively.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Contingencies

In the ordinary course of doing business, we become subject to claims or proceedings from time to time relating to the purchase, development, and sale of real estate. Management believes that these claims include usual obligations incurred by real estate developers and home builders in the normal course of business. In the opinion of management, these matters will not have a material effect on our combined financial position, results of operations or cash flows.

We have provided unsecured environmental indemnities to certain lenders and other counterparties. In each case, we have performed due diligence on the potential environmental risks including obtaining an independent environmental review from outside environmental consultants. These indemnities obligate the Company to reimburse the guaranteed parties for damages related to environmental matters. There is no term or damage limitation on these indemnities; however, if an environmental matter arises, the Company may have recourse against other previous owners. Management is not aware of any environmental claims or occurrences and has recorded no reserves for environmental matters at December 31, 2015 and 2014.

Land Deposits

We have land purchase option contracts, generally through cash deposits, for the right to purchase land or lots at a future point in time with predetermined terms. We do not have title to the property and obligations with respect to the option contracts which are generally limited to the forfeiture of the related nonrefundable cash deposits. The following is a summary of our land purchase deposits and option contracts included in pre-acquisition costs and deposits (in thousands, except for lot count):



	December 31,
	2015		2014
Land deposits and option payments	$	6,406	$	9,591
Commitments under the land purchase option and deposit agreements if the purchases are consummated	$	155,548	$	86,277
Lots under land options and land purchase contracts	6,318		3,921

As of December 31, 2015 and 2014, approximately $0.3 million and $7.4 million of the deposits are related to purchase contracts to deliver finished lots and these deposits are refundable under certain circumstances and secured by indemnity mortgages on the related property.

Leasing Arrangements

We lease office facilities and certain equipment under non-cancellable operating lease agreements. Rent escalation provisions are accounted for using the straight-line method. Rent expense includes common area maintenance costs. Rent expense totaled $0.8 million, $0.7 million and $0.3 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Future minimum lease payments under non-cancellable operating lease agreements are as follows at December 31, 2015 (in thousands):



2016	$	590
2017	616
2018	382
2019	14
2020	—
Thereafter	—
Total	$	1,602

Bonding and Letters of Credit

We have outstanding letters of credit and performance and surety bonds totaling $20.8 million (including $3.4 million under our revolving credit facility), $7.7 million and $0.4 million at December 31, 2015, 2014 and 2013, respectively, related to our obligations for site improvements at various projects. Certain surety bonds are guaranteed by one of the Family Principals. Management does not believe that draws upon these bonds, if any, will have a material effect on our consolidated financial position, results of operations, or cash flows.

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION We operate one principal homebuilding business which is organized and reports by division. We have five operating segments at December 31, 2015: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division. As of December 31, 2015, the Northwest division had start-up activities and no revenues. The Texas division is the largest division and it comprised approximately 55.6%, 66.6% and 83.6% of total home sales revenues for the years ended December 31, 2015, 2014 and 2013, respectively. In accordance with ASC Topic 280, Segment Reporting, operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision-maker (“CODM”) in deciding how to allocate resources and in assessing performance. The CODM primarily evaluates performance based on the number of homes sold, gross margin and net income. The operating segments qualify for aggregation as one reporting segment. In determining the reportable segment, we concluded that all operating segments have similar economic and other characteristics, including similar home floor plans, average selling prices, gross margin percentage, production construction processes, suppliers, subcontractors, regulatory environments, customer type, and underlying demand and supply. Each operating segment follows the same accounting policies and is managed by our management team. We have no inter-segment sales, as all sales are to external customers.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 32
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 26
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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+ Details

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Quarterly results are as follows (in thousands, except per share data):



	First Quarter 2015		Second Quarter 2015		Third Quarter 2015		Fourth Quarter 2015
Total home sales revenues	$	120,690	$	158,826	$	173,956	$	176,764
Gross margin	31,462		42,573		46,007		46,890
Net income before income taxes	11,721		21,246		23,221		24,092
Net income	7,702		13,977		15,420		15,731
Basic earnings per share	0.39		0.70		0.77		0.79
Diluted earnings per share	0.33		0.66		0.76		0.75



	First Quarter 2014		Second Quarter 2014		Third Quarter 2014		Fourth Quarter 2014
Total home sales revenues	$	75,919	$	106,412	$	92,516	$	108,420
Gross margin	19,530		28,396		25,260		29,601
Net income before income taxes	7,067		13,904		10,534		11,574
Net income	4,594		9,037		7,046		7,534
Basic earnings per share	0.22		0.44		0.34		0.37
Diluted earnings per share	0.22		0.43		0.34		0.34

Subsequent Event (Notes)	12 Months Ended
Subsequent Event (Notes)	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENT On January 6, 2016, amounts available to us under the Credit Agreement were increased by $45.0 million to $300.0 million in accordance with the accordion feature of the Credit Agreement.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and include the accounts of LGI Homes, Inc. and all of its subsidiaries subsequent to November 13, 2013, the closing date for the Reorganization Transactions and the IPO. All intercompany balances and transactions have been eliminated in consolidation. For the periods prior to the Reorganization Transactions, the accompanying consolidated financial statements include the accounts of LGI Homes, Inc. and the results of operations since the date of its formation, July 9, 2013, and the Predecessor's historical combined accounts and results of operations for January 1, 2013 to November 13, 2013. All intercompany balances and transactions have been eliminated in consolidation and all intracompany balances and transactions have been eliminated in combination.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and these differences could have a significant impact on the financial statements. The significant accounting estimates include real estate inventory and cost of sales, impairment of real estate inventory and property and equipment, goodwill, warranty reserves, our earnout liability, the fair value of the convertible debt, loss contingencies and our liability under our self-funded health benefit plan.
Cash and Cash Equivalents and Concentration of Credit Risk	Cash and Cash Equivalents and Concentration of Credit Risk Cash and cash equivalents are defined as cash on hand, demand deposits with financial institutions, and short-term liquid investments with an initial maturity date of less than three months. Our cash in demand deposit accounts may exceed federally insured limits and could be negatively impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, we have experienced no loss or diminished access to cash in their demand deposit accounts.
Accounts Receivable	Accounts Receivable Accounts receivable consist primarily of proceeds due from title companies for sales closed prior to period end and are generally collected within a few days from closing.
Real Estate Inventory	Real Estate Inventory Inventory consists of land, land under development, finished lots, sales offices, homes in progress, and completed homes. Inventory is stated at cost unless the carrying amount is determined not to be recoverable, in which case the affected inventory is written down to fair value. Land, development and other project costs, including interest and property taxes incurred during development and home construction and net of expected reimbursements of development costs, are capitalized to real estate inventory. Land development and other common costs that benefit the entire community, including field construction supervision and related direct overhead, are allocated to individual lots or homes, as appropriate. The costs of lots are transferred to homes in progress when home construction begins. Home construction costs and related carrying charges are allocated to the cost of individual homes using the specific identification method. Costs that are not specifically identifiable to a home are allocated on a pro rata basis using either the lot size or relative sales value. Inventory costs for completed homes are expensed to cost of sales as homes are sold. Changes to estimated total development costs subsequent to initial home closings in a community are generally allocated to the remaining unsold lots and homes in the community on a pro rata basis. The life cycle of a community generally ranges from two to five years, commencing with the acquisition of land, continuing through the land development phase, and concluding with the construction and sale of homes. A constructed home is used as the community sales office during the life of the community and then sold. Actual individual community lives will vary based on the size of the community, the sales absorption rate, and whether the property was purchased as raw land or finished lots. In accordance with the ASC Topic 360, Property, Plant, and Equipment, real estate inventory is evaluated for indicators of impairment by each community during each reporting period. In conducting its review for indicators of impairment on a community level, management evaluates, among other things, the margins on homes that have been sold, communities with slow moving inventory, projected margins on future home sales over the life of the community, and the estimated fair value of the land. For individual communities with indicators of impairment, additional analysis is performed to estimate the community’s undiscounted future cash flows. If the estimated undiscounted future cash flows are greater than the carrying value of the community group of assets, no impairment adjustment is required. If the undiscounted cash flows are less than the community’s carrying value, the asset group is impaired and is written down to its fair value. We estimate the fair value of communities using a discounted cash flow model. As of December 31, 2015 and 2014, the real estate inventory is stated at cost; there were no inventory impairment charges recorded during the years ended December 31, 2015, 2014 and 2013.
Capitalized Interest	Capitalized Interest Interest and other financing costs are capitalized as cost of inventory during community development and home construction activities, in accordance with ASC Topic 835, Interest and expensed in cost of sales as homes in the community are sold. To the extent the debt exceeds qualified assets, a portion of the interest incurred is expensed.
Pre-Acquisition Costs and Deposits	Pre-Acquisition Costs and Deposits Amounts paid for land options, deposits on land purchase contracts, and other pre-acquisition costs are capitalized and classified as deposits to purchase. Upon execution of the purchase, these deposits are applied to the acquisition price of the land and recorded as a cost component of the land in real estate inventory. To the extent that any deposits are nonrefundable and the associated land acquisition process is terminated or no longer determined probable, the deposit and related pre-acquisition costs are charged to general and administrative expense. Management reviews the likelihood of the acquisition of contracted lots in conjunction with its periodic real estate impairment analysis. Under ASC Topic 810, Consolidation (“ASC 810”), a nonrefundable deposit paid to an entity is deemed to be a variable interest that will absorb some or all of the entity's expected losses if they occur. Non-refundable land purchase and lot option deposits generally represent our maximum exposure if we elect not to purchase the optioned property. In some instances, we may also expend funds for due diligence, development and construction activities with respect to optioned land prior to close. Such costs are classified as preacquisition costs, which we would have to absorb should the option not be exercised. Therefore, whenever we enter into a land option or purchase contract with an entity and makes a nonrefundable deposit, it may have a variable interest in a variable interest entity (“VIE”). In accordance with ASC 810, we perform ongoing reassessments of whether we are the primary beneficiary of a VIE and would consolidate the VIE if we are deemed to be the primary beneficiary. As of December 31, 2015 and December 31, 2014, we were not deemed to be the primary beneficiary for any VIEs associated with non-refundable land deposit and option contracts.
Deferred Loan Costs	Deferred Loan Costs Deferred loan costs represent debt issuance costs and, depending on the nature and purpose of the loan, are capitalized to real estate inventory or amortized to interest expense using the straight-line method which approximates the effective interest method.
Property and Equipment	Property and Equipment Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation. Depreciation expense is recorded in general and administrative expenses. Upon sale or retirement, the costs and related accumulated depreciation are eliminated from the respective accounts and any resulting gain or loss is included in other income, net. Depreciation is generally computed using the straight-line method over the estimated useful lives of the assets, ranging from 2 to 5 years for property and equipment. Leasehold improvements are depreciated over the shorter of the asset life or the term of the lease. Maintenance and repair costs are expensed as incurred. Impairments of long-lived assets are determined periodically when indicators of impairment are present. If such indicators are present, the determination of the amount of impairment is based on judgments as to the future undiscounted operating cash flows to be generated from these assets throughout the remaining estimated useful lives. If these undiscounted cash flows are less than the carrying amount of the related asset, impairment is recognized for the excess of the carrying value over its fair value. There were no impairments of property, equipment and leasehold improvements recorded during the years ended December 31, 2015, 2014 and 2013.
Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs)	Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs) The Predecessor functioned as the managing member of several joint ventures conducting homebuilding activities; these joint ventures became wholly-owned subsidiaries of us as a result of the Reorganization Transactions and the GTIS Acquisitions. In accordance with ASC 810, management had assessed whether these entities were VIEs. The Predecessor had variable interests in the joint venture arrangements that it managed, and these joint ventures were determined to be VIEs because the members of the joint ventures, as a group, had insufficient equity at risk without further capital contributions. The Predecessor’s rights as well as the rights held by the other joint venture members had been evaluated to determine the primary beneficiary of the VIE, including the extent of substantive participating rights and control of activities that most significantly affected its economic performance. Such activities included, but were not limited to, the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; and the ability to acquire additional land into the VIE. If the Predecessor was not able to control the significant decisions, the Predecessor was not considered the primary beneficiary of the VIE. If the Predecessor was determined to be the primary beneficiary of the VIE, the entity was consolidated in the Predecessor's financial statements. The Predecessor had investments in four joint ventures where the Predecessor and the other joint venture members were deemed to have joint control and the Predecessor was not the primary beneficiary since all major decisions required both parties’ consent. Accordingly, the Predecessor’s interests in these joint ventures were accounted for using the equity method and its share of the joint ventures’ net earnings was included in income from unconsolidated joint ventures and investments in unconsolidated joint ventures. Distributions received were credited against the related investment in the joint venture. In addition, the Predecessor had interests in two VIE’s (LGI Homes – Sterling Lakes, LLC and LGI Fund III Holdings, LLC) where it had been determined that the Predecessor was the primary beneficiary. In addition to the Predecessor serving as the managing member of these entities, the Family Principals of the Predecessor also held the general partner controlling interests in the non-managing members of the VIEs. As a result, the Predecessor combined with the Family Principals’ related party interests had the power to direct all significant activities of the VIEs, and had exposure to the risks and rewards of the VIEs, based on the division of income and loss pursuant to the joint venture agreement and the Predecessor’s ownership in the joint ventures. These two VIEs are consolidated in the accompanying consolidated financial statements. Management evaluated our investments in unconsolidated entities for indicators of impairment during each reporting period. No impairment charges were recorded related to investments in unconsolidated entities during the periods presented.
Goodwill and Intangible Assets	Goodwill and Intangible Assets The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill in accordance with ASC 805. Goodwill and intangible assets that do not have finite lives are not amortized, but are assessed for impairment at least annually or more frequently if certain impairment indicators are present. We recorded $12.0 million of goodwill related to the GTIS Acquisitions. No goodwill impairment charges were recorded in 2015, 2014 and 2013.
Warranty Reserves	Warranty Reserves Future direct warranty costs are accrued and charged to cost of sales in the period when the related home is sold. Our warranty liability is based upon historical warranty cost experience and is adjusted as appropriate to reflect qualitative risks associated with the types of homes built, the geographic areas in which they are built, and potential impacts of our continued expansion. Warranty reserves are reviewed quarterly to assess the reasonableness and adequacy and to make adjustments to the balance of the pre-existing reserves, as needed, to reflect changes in trends and historical data as information becomes available.
Customer Deposits	Customer Deposits Customer deposits are received upon signing a purchase contract and are generally $1,000 or less. Deposits are generally refundable if the customer is unable to obtain financing. Forfeited buyer deposits related to home sales are recognized in other income in the period in which it is determined that the buyer will not complete the purchase of the property and the deposit is nonrefundable to the buyer.
Home Sales	Home Sales In accordance with ASC Topic 360—20, Real Estate Sales, revenues from home sales are recorded at the time each home sale is closed, title and possession are transferred to the buyer, and we have no significant continuing involvement with the home. Home sales proceeds are generally received from the title company within a few days after closing. Home sales are reported net of sales discounts and incentives granted to home buyers, which are primarily seller-paid closing costs.
Cost of Sales	Cost of Sales As discussed under Real Estate Inventory above, cost of sales for homes closed include the construction costs of each home and allocable land acquisition and land development costs, capitalized interest, and other related common costs (both incurred and estimated to be incurred).
Selling and Commission Costs	Selling and Commission Costs Sales commissions are paid and expensed based on homes sold. Other selling costs are expensed in the period incurred.
Advertising Costs	Advertising Costs Advertising and direct mail costs are expensed as incurred. Advertising and direct mail costs were $9.3 million, $8.6 million and $3.3 million for the years ended December 31, 2015, 2014, and 2013, respectively.
Income Taxes	Income Taxes LGI Homes, Inc. is a taxable entity. Prior to the Reorganization Transactions, the Predecessor consisted of limited liability companies and limited partnerships, all of which were treated as partnerships for income tax purposes and federal income taxes on taxable income or losses realized by the Predecessor were the obligation of the individual members or partners. As a result of the Reorganization Transactions, the Predecessor entities are subject to federal and state income taxes. The accompanying financial statements include a provision for income taxes based on the period when our operations are taxable. We utilize the liability method of accounting for income taxes. Under the liability method, deferred tax assets and liabilities are recognized using enacted tax rates for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the net deferred tax assets will not be realized. Our ability to realize deferred tax assets is assessed throughout the year and a valuation allowance is established, if required. We recognize the impact of a tax position only if it is more likely than not to be sustained upon examination based on the technical merits of the position. We recognize potential interest and penalties related to uncertain tax positions in income tax expense. We file income tax returns in the U.S. federal jurisdiction and in various states and does not have any unrecognized tax benefits. We are not presently under exam for income tax by any taxing jurisdiction, and no longer remains subject to exam for years before 2012 (2011 for Texas).
Earnings Per Share	Earnings Per Share Basic earnings per share is based on the weighted average number of shares of common stock outstanding. Diluted earnings per share is based on the weighted average number of shares of common stock and dilutive securities outstanding. Diluted earnings per share gives effect to all dilutive potential shares outstanding during the period using the treasury stock method and for our 4.25% Convertible Notes due 2019 (the “Convertible Notes”) using the if-converted method through April 29, 2015. On April 30, 2015, our stockholders approved the flexible settlement provisions of the Convertible Notes at our 2015 Annual Meeting of Stockholders which allows us to settle the conversion of the Convertible Notes using any combination of cash and shares of our common stock. Therefore, subsequent to April 30, 2015, the treasury stock method is used to calculate the dilutive effect of the Convertible Notes. Diluted earnings per share excludes all dilutive potential shares of common stock if their effect is antidilutive.
Share-Based Compensation	Stock-Based Compensation Compensation costs for non-performance-based restricted stock awards are measured using the closing price of our common stock on the date of grant and are expensed on a straight-line basis over the vesting period of the award. Compensation costs for performance-based restricted stock awards are also measured using the closing price of our common stock on the date of grant but are expensed in accordance with ASC 718-10-25-20, Compensation - Stock Compensation, which requires an assessment of probability of attainment of the performance target. Once the performance target outcome is determined to be probable, the cumulative expense is recorded and the remaining expense is recorded on a straight-line basis through the end of the award's vesting period.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, “Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”) as part of its initiative to reduce complexity in accounting standards (the “Simplification Initiative”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts and does not affect the recognition and measurement guidance for debt issuance costs. ASU 2015-03 will be effective for us beginning January 1, 2016. We currently present deferred financing costs within other assets. Accordingly, the adoption of the new guidance will result in the reclassification of debt issuance costs as an offset to the related debt on the balance sheet, which we do not expect to be material to our consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”), which amends the consolidation requirements in ASC 810, primarily related to limited partnerships and variable interest entities (“VIEs”). ASU 2015-02 will be effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2015-02 is not expected to have a material effect on our consolidated financial statements and disclosures. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to evaluate, at each reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. This ASU applies to all entities and is effective for periods ending after December 15, 2016. The adoption of ASU 2014-15 is not expected to have any effect on our consolidated financial statements or disclosures. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition,” and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” ASU 2014-09’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective beginning January 1, 2018 and, at that time, we may adopt the new standard under the full retrospective approach or the modified retrospective approach. Early adoption of this ASU is not permitted. We are currently evaluating the method and impact the adoption of ASU 2014-09 will have on our consolidated financial statements and disclosures.

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed



Purchase Consideration:	Total
Cash paid for net assets	$	15,169
Contingent consideration (earnout)	2,162
Total consideration	$	17,331
Assets acquired and liabilities assumed:
Real estate inventory	$	20,227
Pre-acquisition costs, deposits and other assets	177
Total Assets	$	20,404
Accounts payable and accrued liabilities	(2,682		)
Customer deposits	(391		)
Total Liabilities	(3,073		)
Net assets acquired	$	17,331

Schedule of Pro Forma Information



Unaudited Pro Forma Financial Information	For the Year Ended December 31, 2013
Home sales revenues	$	240,963
Cost of sales	$	179,831
Net income before income taxes	$	22,922

Real Estate Inventory (Tables)

12 Months Ended

Dec. 31, 2015

Inventory Disclosure [Abstract]

Schedule of Real Estate Inventory

real estate inventory consists of the following (in thousands):



	December 31,
	2015		2014
Land, land under development, and finished lots	$	320,320	$	244,658
Sales offices	8,083		6,978
Homes in progress	109,451		55,807
Completed homes	93,374		60,465
Total real estate inventory	$	531,228	$	367,908

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consist of the following (in thousands):



		December 31,
	Asset Life	2015			2014
	(years)
Computer equipment	2-5	$	1,237		$	738
Machinery and equipment	5	53			52
Furniture and fixtures	2-5	2,132			1,557
Leasehold improvements	various	240			230
Total property and equipment		3,662			2,577
Less: Accumulated depreciation		(1,554		)	(967		)
Property and equipment, net		$	2,108		$	1,610

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests (Tables)

12 Months Ended

Dec. 31, 2015

LGI/GTIS Joint Venture

Schedule of Equity Method Investments [Line Items]

Summary of Condensed Combined Financial Information Accounted for Equity Method

ummarized condensed statement of operations of the LGI/GTIS Joint Ventures accounted for using the equity method is presented below for the period through the date of the GTIS Acquisitions (in thousands):



	Period Ended November 13,
Statement of Operations	2013
Home sales	$	80,896
Cost of sales	$	58,718
Net earnings of unconsolidated entities	$	10,873
Predecessor's share in net earnings of unconsolidated entities	$	4,287

Other Assets (Tables)

12 Months Ended

Dec. 31, 2015

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets consist of the following (in thousands):



	December 31,
	2015		2014
Deferred loan costs	$	3,631	$	3,732
Prepaid insurance	1,301		1,176
Prepaid expenses	9,024		1,497
Security deposits	913		1,110
Total other assets	$	14,869	$	7,515

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2015

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

Accrued and other current liabilities consist of the following (in thousands):



	December 31,
	2015		2014
Inventory related obligations	$	17,389	$	7,275
Retentions payable	3,036		2,696
Accrued compensation, bonuses and benefits	5,573		2,434
Earnout liability	1,425		2,196
Taxes payable	6,205		1,448
Warranty reserve	1,325		900
Other	5,053		4,416
Total accrued expenses and other liabilities	$	40,006	$	21,365

Changes in Companies' Warranty Accrual

Changes to our warranty accrual are as follows (in thousands):



	December 31,
	2015			2014			2013
Warranty reserves, beginning of year	$	900		$	630		$	450
Warranty provision	1,608			1,179			764
Warranty reserve acquired in GTIS Acquisitions	—			—			30
Warranty expenditures	(1,183		)	(909		)	(614		)
Warranty reserves, end of year	$	1,325		$	900		$	630

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of Notes Payable



	December 31,
	2015		2014
Notes payable to Wells Fargo Bank, National Association and several financial institutions under the Credit Agreement ($255.0 million revolving credit facility) maturing on May 26, 2018; interest paid monthly at LIBOR plus 3.50%; collateralized by certain land, land under development, and finished lots (carrying value of $63.0 million at December 31, 2015)	$	230,000	$	—
Notes payable to Texas Capital Bank, National Association and a syndication of lenders under the Credit Agreement ($200.0 million secured revolving credit facility) repaid and terminated on May 27, 2015; interest paid monthly at LIBOR plus 2.75%, with a LIBOR floor of 1.00%	—		139,404
4.25% Convertible Notes due November 15, 2019; interest paid semi-annually at 4.25%; net of approximately $6.8 million and $8.3 million in unamortized discount at December 31, 2015 and December 31, 2014, respectively	78,192		76,695
Total notes payable	$	308,192	$	216,099

Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]

As of December 31, 2015, the annual aggregate maturities of our notes payable during each of the next five fiscal years are as follows (amounts in thousands):



	Amount
2016	$	—
2017	—
2018	230,000
2019	85,000
2020	—
Total notes payable	315,000
Less: Convertible Notes discount	(6,808		)
Net notes payable	$	308,192

Schedule of Interest Activity for Notes Payable

Interest activity, including other financing costs, for notes payable for the periods presented is as follows (in thousands):



	Year Ended December 31,
	2015			2014			2013
Interest incurred	$	14,198		$	6,026		$	1,378
Less: Amounts capitalized	(14,198		)	(6,026		)	(1,327		)
Interest expense	$	—		$	—		$	51

Cash paid for interest	$	9,766		$	4,109		$	1,220

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consisted of the following (in thousands):



	Year ended December 31,
	2015		2014			2013
Current:
Federal	$	24,990	$	13,266		$	841
State	2,419		1,606			513
Current tax provision	27,409		14,872			1,354
Deferred:
Federal	33		—			(265		)
State	8		(4		)	(23		)
Deferred tax benefit	41		(4		)	(288		)
Total income tax provision	$	27,450	$	14,868		$	1,066

Schedule of Effective Income Tax Rate Reconciliation



	Year Ended December 31,
	2015					2014					2013
Tax at federal statutory rate	$	28,098		35.0	%	$	15,078		35	%		$	7,981		35.0	%
State income taxes (net of federal benefit)	1,568			2.0		1,037			2.4	%		439			1.9
Domestic production activity deduction	(2,462		)	(3.1	)	(1,294		)	(3	)%		(88		)	(0.4	)
Non deductible expenses and other	237			0.3		47			0.1	%		1			0.1
Change in tax status of entity - deferred taxes	9			—		—			—	%		245			1.1
Non-taxable - gain on remeasurement	—			—		—			—	%		(2,256		)	(9.9	)
Income attributable to partnerships - nontaxable	—			—		—			—	%		(5,256		)	(23.1	)
Tax at effective rate	$	27,450		34.2	%	$	14,868		34.5	%		$	1,066		4.7	%

Schedule of Deferred Tax Assets and Liabilities

The components of net deferred tax assets and liabilities at December 31, 2015 and December 31, 2014, are as follows (in thousands):



	December 31
	2015			2014
Deferred tax assets:
Accruals and reserves	$	1,741		$	913
Inventory	536			527
Compensation related to RSUs	176			373
Deferred loan costs	84			108
Deferred Rent	44			43
Total deferred tax assets	2,581			1,964
Deferred tax liabilities:
Discount on Convertible Notes	(2,486		)	(3,079		)
Prepaids	(2,078		)	(1,018		)
Tax depreciation in excess of book depreciation	(441		)	(350		)
Goodwill and other assets amortized for tax	(302		)	(202		)
Total deferred tax liability	$	(5,307	)	$	(4,649	)
Total net deferred tax liability	$	(2,726	)	$	(2,685	)

Equity (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Schedule of Earnings Per Share, Basic and Diluted



	For the year Ended December 31,				For the Period from November 13, 2013 - December 31, 2013
	2015		2014		For the Period from November 13, 2013 - December 31, 2013
Numerator (in thousands):
Numerator for basic earnings per share	$	52,830	$	28,211	$	7,110
Effect of dilutive securities:
Interest expense associated with Convertible Notes, net of taxes	190		7		—
Numerator for diluted earnings per share	$	53,020	$	28,218	$	7,110
Denominator:
Basic weighted average shares outstanding	19,939,761		20,666,758		20,763,449
Effect of dilutive securities:
Convertible Notes - treasury stock method	463,609		—		—
Convertible Notes - if-converted method	1,298,871		432,957		—
Restricted stock units	38,478		103,252		70,675
Diluted weighted average shares outstanding	21,740,719		21,202,967		20,834,124

Basic earnings per share	$	2.65	$	1.37	$	0.34
Diluted earnings per share	$	2.44	$	1.33	$	0.34
Antidilutive non-vested restricted stock units excluded from calculation of diluted earnings per share	23,201		3,022		$	—

Owners' Equity of LGI Homes Group

The following table reflects the activity and balances in the owners’ equity of the Predecessor prior to the Reorganization Transactions (in thousands):



	LGI Homes Group, LLC Members’ Capital			LGI Homes Corporate, LLC Members’ Capital			LGI Homes- Deer Creek, LLC Members’ Capital		Other Partnerships’ Capital			Total Owners’ Equity
BALANCE—DECEMBER 31, 2012	$	17,155		$	3,431		$	—	$	4,625		$	25,211
Net income	11,892			1,884			—		1,441			15,217
Contributions	—			2,500			—		35			2,535
Distributions	(6,969		)	(1,469		)	—		(673		)	(9,111		)
BALANCE—NOVEMBER 13, 2013	$	22,078		$	6,346		$	—	$	5,428		$	33,852

Stock-Based Compensation Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Restricted Stock Unit Activity

The following table summarizes the activity of our restricted stock units (“RSUs”):



	Shares		Weighted Average Grant Date Fair Value
Balance at January 1, 2013	—		$	—
Granted	140,222		$	11.00
Balance at December 31, 2013	140,222		$	11.00
Granted	82,441		$	16.52
Vested	(116,543	)	$	11.00
Forfeited	(3,334	)	$	11.00
Balance at December 31, 2014	102,786		$	15.43
Granted	85,184		$	17.40
Vested	(75,687	)	$	16.12
Forfeited	(4,469	)	$	15.85
Balance at December 31, 2015	107,814		$	16.48

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block]



Period Granted	Target PSUs Outstanding December 31, 2014	Target PSUs Granted	Target PSUs Vested	Target PSUs Forfeited	Target PSUs Outstanding at December 31, 2015	Weighted Average Grant Date Fair Value
2014	62,906	—	—	—	62,906	$	17.09
2015	—	127,111	—	—	127,111	$	13.34
Total	62,906	127,111	—	—	190,017

Fair Value Disclosure (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]



		December 31, 2015				December 31, 2014
	Fair Value Hierarchy	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value

Convertible Notes	Level 2	$	78,192	$	74,449	$	76,695	$	76,695
Earnout liability	Level 3	$	1,425	$	1,425	$	2,196	$	2,196

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Summary of Land Purchase Deposits and Option Contracts Included Pre-Acquisition Cost and Deposits

The following is a summary of our land purchase deposits and option contracts included in pre-acquisition costs and deposits (in thousands, except for lot count):



	December 31,
	2015		2014
Land deposits and option payments	$	6,406	$	9,591
Commitments under the land purchase option and deposit agreements if the purchases are consummated	$	155,548	$	86,277
Lots under land options and land purchase contracts	6,318		3,921

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under non-cancellable operating lease agreements are as follows at December 31, 2015 (in thousands):



2016	$	590
2017	616
2018	382
2019	14
2020	—
Thereafter	—
Total	$	1,602

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Quarterly results are as follows (in thousands, except per share data):



	First Quarter 2015		Second Quarter 2015		Third Quarter 2015		Fourth Quarter 2015
Total home sales revenues	$	120,690	$	158,826	$	173,956	$	176,764
Gross margin	31,462		42,573		46,007		46,890
Net income before income taxes	11,721		21,246		23,221		24,092
Net income	7,702		13,977		15,420		15,731
Basic earnings per share	0.39		0.70		0.77		0.79
Diluted earnings per share	0.33		0.66		0.76		0.75



	First Quarter 2014		Second Quarter 2014		Third Quarter 2014		Fourth Quarter 2014
Total home sales revenues	$	75,919	$	106,412	$	92,516	$	108,420
Gross margin	19,530		28,396		25,260		29,601
Net income before income taxes	7,067		13,904		10,534		11,574
Net income	4,594		9,037		7,046		7,534
Basic earnings per share	0.22		0.44		0.34		0.37
Diluted earnings per share	0.22		0.43		0.34		0.34

Organization and Business (Details) $ in Millions	Nov. 13, 2013 USD ($)
Class of Stock [Line Items]
Percentage of ownership before transaction	50.00%
IPO \| Common Stock
Class of Stock [Line Items]
Proceeds from issuance initial public offering, net of issuance costs	$ 102.6

Acquisitions - Additional Information (Details)				2 Months Ended	12 Months Ended
Acquisitions - Additional Information (Details)	Oct. 02, 2014 USD ($) lot	Jul. 11, 2014 USD ($)	Nov. 13, 2013 USD ($) joint_venture shares	Dec. 31, 2013 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		$ 15,400,000
Business Combination, Contingent Consideration, Liability					$ 1,425,000	$ 2,196,000
Gain on remeasurement of interests in LGI/GTIS Joint Ventures					0	0	$ (6,446,000)
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Inventory Total Portion Sold Included in Cost of Goods Sold					7,600,000	6,400,000
Net income before income taxes							22,922,000
Oakmont Home Builders
Business Acquisition [Line Items]
Number of Homes	150
Number of Lots \| lot	1,000
Business Combination, Consideration Transferred	$ 17,331,000
Cash consideration paid	15,169,000
Business Combination, Liabilities Arising from Contingencies, Amount Recognized	$ 2,162,000				$ 1,425,000	$ 2,196,000
Fair Value Inputs, Discount Rate	10.00%
Business Combination, Liabilities Arising from Contingencies, Amount Recognized, Other than at Fair Value	$ 2,600,000
Business Combination, Acquisition Related Costs	$ 700,000
Number of Homes Closed					269	71
Business Combination Contingent Liability Paid					$ 1,100,000
Business Combination, Contingent Consideration, Liability					1,400,000
Business Combination, Contingent Consideration, Liability, Current					300,000
LGI GTIS Joint Venture Partners' Interests
Business Acquisition [Line Items]
Business Combination, Consideration Transferred			$ 41,300,000
Cash consideration paid			$ 36,800,000
Number of businesses acquired \| joint_venture			4
Equity interest issued, number of shares \| shares			409,091
Equity interest issued			$ 4,500,000
Gain on remeasurement of interests in LGI/GTIS Joint Ventures			(6,400,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets Including Goodwill			12,700,000
Intangible asset			$ 700,000
Acquired intangible assets, weighted average useful life			3 years
Fair value step-up adjustment, inventory				$ 7,900,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory, Portion Sold Included in Cost of Goods Sold					$ 1,200,000	$ 2,900,000	$ 3,500,000
LGI GTIS Joint Venture Partners' Interests \| Amortization expense
Business Acquisition [Line Items]
Net income before income taxes						$ (200,000)

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 02, 2014	Jul. 11, 2014	Dec. 31, 2015	Dec. 31, 2014
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination [Abstract]
Business Combination, Consideration Transferred		$ 15,400
Oakmont Home Builders
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination [Abstract]
Cash consideration paid	$ 15,169
Business Combination, Liabilities Arising from Contingencies, Amount Recognized	2,162		$ 1,425	$ 2,196
Business Combination, Consideration Transferred	17,331
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Real estate inventory	20,227
Other assets	177
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	20,404
Accounts payable and accrued liabilities	(2,682)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	(391)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(3,073)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 17,331

Acquisitions - Pro Forma Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
Pro Forma Financial Information for the Company
Home sales revenues	$ 240,963
Cost of sales	179,831
Net income before income taxes	$ 22,922

Summary of Significant Accounting Policies - Additional Information (Detail)		10 Months Ended	12 Months Ended
	Nov. 13, 2013 USD ($)	Nov. 13, 2013 USD ($) U_lgihJoint_Venture	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Nov. 30, 2014
Real estate inventory:
Impairment of real estate inventory			$ 0	$ 0	$ 0
Property and Equipment:
Impairments of property, equipment and leasehold improvements			0	0	0
Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs):
Number of investments in VIE's	2	2
Impairment of investments			0
Goodwill and Intangible Assets:
Goodwill impairment			0	0	0
Advertising Costs:
Advertising and direct mail costs			$ 9,300,000	$ 8,600,000	$ 3,300,000
Minimum
Real estate inventory:
Life cycle of community			2 years
Property and Equipment:
Estimated useful life of asset			2 years
Maximum
Real estate inventory:
Life cycle of community			5 years
Property and Equipment:
Estimated useful life of asset			5 years
Customer deposits:
Typical customer deposits			$ 1,000
Predecessor
Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs):
Number of unconsolidated joint ventures \| U_lgihJoint_Venture		4
LGI GTIS Joint Venture Partners' Interests
Goodwill and Intangible Assets:
Goodwill	$ 12,000,000	$ 12,000,000
Intangible asset	$ 700,000	$ 700,000
Acquired intangible assets, weighted average useful life	3 years
Convertible Debt
Earnings Per Share:
Debt Instrument, Interest Rate, Stated Percentage						4.25%

Real Estate Inventory - Schedule of Real Estate Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Land, land under development, and finished lots	$ 320,320	$ 244,658
Sales offices	8,083	6,978
Homes in progress	109,451	55,807
Completed homes	93,374	60,465
Total real estate inventory	$ 531,228	$ 367,908

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment	$ 3,662	$ 2,577
Less: Accumulated depreciation	(1,554)	(967)
Property and equipment, net	$ 2,108	1,610
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	2 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	5 years
Computer Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,237	738
Computer Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	2 years
Computer Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	5 years
Machinery, equipment and vehicles
Property, Plant and Equipment [Line Items]
Property and equipment	$ 53	52
Machinery, equipment and vehicles \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	2 years
Machinery, equipment and vehicles \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	5 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	$ 2,132	1,557
Furniture and Fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	2 years
Furniture and Fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	5 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment	$ 240	$ 230

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0.6	$ 0.4	$ 0.3
Settlement of vehicle notes payable (through trade in or assumption by purchaser)			$ 0.3

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests - Summary of Condensed Combined Financial Information Accounted for Equity Method (Statements of Operations) (Detail) - USD ($)	10 Months Ended	12 Months Ended
	Nov. 13, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Operations
Predecessor's share in net earnings of unconsolidated entities		$ 0	$ 0	$ 4,287,000
LGI/GTIS Joint Venture \| Predecessor
Statement of Operations
Home sales	$ 80,896,000
Cost of sales	58,718,000
Net earnings of unconsolidated entities	10,873,000
Predecessor's share in net earnings of unconsolidated entities	$ 4,287,000

- Definition

The amount of net income (loss) reported by an equity method investment of the entity.

+ References + Details

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests - Additional Information (Detail)		10 Months Ended	12 Months Ended
	Nov. 13, 2013	Nov. 13, 2013 USD ($) U_lgihJoint_Venture	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of Consolidated Joint Ventures					2
Priority distributions from Unconsolidated Joint Ventures			$ 0	$ 0	$ 4,414,000
Number of investments in VIE's	2	2
(Income) loss attributable to non-controlling interests			$ 0	$ 0	$ (590,000)
Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Percentage of internal rate of return	15.00%
Non-Managing Members \| Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Profit sharing percentage	85.00%
Companies \| Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Profit sharing percentage	15.00%
Companies \| Variable Interest Entity, Primary Beneficiary \| Minimum
Schedule of Equity Method Investments [Line Items]
Percentage of cash and profit distribution	20.00%	20.00%
Companies \| Variable Interest Entity, Primary Beneficiary \| Maximum
Schedule of Equity Method Investments [Line Items]
Percentage of cash and profit distribution	40.00%	40.00%
Predecessor
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated joint ventures \| U_lgihJoint_Venture		4
Predecessor \| LGI/GTIS Joint Venture
Schedule of Equity Method Investments [Line Items]
Percentage of internal rate of return		15.00%
Predecessor \| LGI/GTIS Joint Venture \| GTIS Members
Schedule of Equity Method Investments [Line Items]
Profit sharing percentage		85.00%
Predecessor \| LGI/GTIS Joint Venture \| Companies
Schedule of Equity Method Investments [Line Items]
Profit sharing percentage		15.00%
Percentage of capital balance		15.00%
Percentage of cash distributions		40.00%
Predecessor \| LGI/GTIS Joint Venture \| Companies \| Minimum
Schedule of Equity Method Investments [Line Items]
Percentage of cash and profit distribution	20.00%	20.00%
Predecessor \| LGI/GTIS Joint Venture \| Companies \| Maximum
Schedule of Equity Method Investments [Line Items]
Percentage of cash and profit distribution	40.00%	40.00%
Priority distributions from Unconsolidated Joint Ventures		$ 2,700,000

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Finance Costs, Net	$ 3,631	$ 3,732
Prepaid insurance	1,301	1,176
Prepaid expenses	9,024	1,497
Security deposits	913	1,110
Total other assets	$ 14,869	$ 7,515

Accrued Expenses and Other Liabilities - Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Payables and Accruals [Abstract]
Inventory Related Obligations	$ 17,389	$ 7,275
Retentions payable	3,036	2,696
Accrued compensation, bonuses and benefits	5,573	2,434
Business Combination, Contingent Consideration, Liability	1,425	2,196
Taxes payable	6,205	1,448
Product Warranty Accrual	1,325	900	$ 630	$ 450
Other Liabilities	5,053	4,416
Total accrued expenses and other liabilities	$ 40,006	$ 21,365

Accrued Expenses and Other Liabilities - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Product Warranty Liability [Line Items]
Inventory Related Obligation Term	30 years
Inventory Related Obligations	$ 17,389	$ 7,275
Structural Elements
Schedule Of Product Warranty Liability [Line Items]
Limited warranty periods	10 years
Other Construction Components
Schedule Of Product Warranty Liability [Line Items]
Limited warranty periods	1 year

Accrued Expenses and Other Liabilities - Changes in Companies' Warranty Accrual (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Warranty reserves, beginning of year	$ 900	$ 630	$ 450
Warranty provision	1,608	1,179	764
Warranty reserve acquired in GTIS Acquisitions	0	0	30
Warranty expenditures	(1,183)	(909)	(614)
Warranty reserves, end of year	$ 1,325	$ 900	$ 630

Notes Payable - Schedule of Notes Payable (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Notes payable	$ 308,192,000	$ 216,099,000
Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable	230,000,000	139,404,000
Convertible Debt
Debt Instrument [Line Items]
Notes payable	$ 78,192,000	$ 76,695,000

Notes Payable - Schedule of Notes Payable Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Nov. 30, 2014
Debt Instrument [Line Items]
Debt Instrument, Collateral Amount	$ 63,000,000
Line of credit facility		$ 200,000,000.0
Line of credit facility, expiring date	May 26, 2018	Apr. 28, 2017
Line of credit facility, LIBOR plus		2.75%
Line of credit facility, floor rate		0.00%
Long-term Line of Credit		$ 335,400,000
Debt Instrument, Unamortized Discount	$ 6,808,000	$ 8,305,000	$ (8,500,000)
Convertible Debt
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.25%

Notes Payable - Additional Information (Detail) $ / shares in Units, shares in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2014 USD ($) $ / shares	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($) shares	Sep. 30, 2014	May 31, 2005 USD ($)
Debt Instrument [Line Items]
Amortization of Financing Costs and Discounts		$ 3,900,000	$ 1,300,000
Line of Credit Facility:
Line of credit facility			$ 200,000,000.0
Line of credit facility, expiring date		May 26, 2018	Apr. 28, 2017
Assets		$ 622,333,000	$ 438,127,000
Notes payable		308,192,000	$ 216,099,000
Letters of Credit Outstanding, Amount		3,400,000
Line of Credit Facility, Remaining Borrowing Capacity		$ 21,600,000
Debt Instrument, Basis Spread on Variable Rate		3.50%
Convertible Debt:
Convertible Debt	$ 85,000,000
Debt Conversion, Converted Instrument, Expiration or Due Date			Nov. 15, 2019
Debt Instrument, Convertible, Earliest Date			May 15, 2019
Debt Instrument, Convertible, Conversion Ratio			46.4792
Convertible Notes Amount In Multiples That May Be Converted			$ 1,000
Debt Instrument, Convertible, Conversion Price \| $ / shares	$ 21.52
Convertible Debt, Fair Value Disclosures	$ 76,500,000	$ 74,449,000	76,695,000
Debt Instrument, Unamortized Discount	8,500,000	(6,808,000)	(8,305,000)
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt	5,500,000		5,200,000
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature	$ 3,000,000
Payments for Repurchase of Common Stock		0	$ 16,550,000
Stock Repurchased During Period, Shares \| shares			1.0
Allocation Of Debt Issuance Cost To Liability Component Of Convertible Notes Payable			$ 2,700,000
Allocation Of Debt Issuance Cost To Equity Component Of Convertible Notes Payable			300,000
London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility:
LIBOR rate				0.36%
Revolving Credit Facility
Line of Credit Facility:
Notes payable		230,000,000	139,404,000
Convertible Debt
Line of Credit Facility:
Notes payable		78,192,000	76,695,000
Amortization of Financing Costs		500,000	100,000
Convertible Debt:
Debt Instrument, Interest Rate, Stated Percentage	4.25%
Debt Instrument, Interest Rate, Effective Percentage	6.60%
Interest Expense, Debt		3,600,000	400,000
Proceeds from Debt, Net of Issuance Costs			82,000,000
Debt Issuance Cost			3,000,000
Amortization of Debt Discount (Premium)		1,500,000	$ 200,000
Revolving Credit Facility
Line of Credit Facility:
Line of credit facility		255,000,000			$ 300,000,000
Line of Credit Facility, Additional Borrowing Capacity		30,000,000
Line of Credit Facility, Current Borrowing Capacity		225,000,000
Minimum
Line of Credit Facility:
Securities Loaned, Asset		$ 35,000,000
Debt Instrument, Basis Spread on Variable Rate		3.00%
Maximum
Line of Credit Facility:
Debt Instrument, Basis Spread on Variable Rate		3.50%
Guarantor Subsidiaries [Member] \| Minimum
Line of Credit Facility:
Assets		$ 500,000

Notes Payable Notes Payable - Annual aggregate maturities of our notes payable (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Nov. 30, 2014
Maturities of Long-term Debt [Abstract]
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	$ 0
Long-term Debt, Maturities, Repayments of Principal in Year Two	0
Long-term Debt, Maturities, Repayments of Principal in Year Three	230,000
Long-term Debt, Maturities, Repayments of Principal in Year Four	85,000
Long-term Debt, Maturities, Repayments of Principal in Year Five	0
Long-term Debt, Gross	315,000
Debt Instrument, Unamortized Discount	(6,808)	$ (8,305)	$ 8,500
Deferred tax liabilities, net	$ 308,192	$ 216,099

Notes Payable - Schedule of Interest Activity for Notes Payable (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
Interest incurred	$ 14,198	$ 6,026	$ 1,378
Less: Amounts capitalized	(14,198)	(6,026)	(1,327)
Interest expense	0	0	51
Cash paid for interest	$ 9,766	$ 4,109	$ 1,220

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ 24,990	$ 13,266	$ 841
State	2,419	1,606	513
Current tax provision	27,409	14,872	1,354
Deferred:
Federal	33	0	(265)
State	8	(4)	(23)
Deferred tax benefit	41	(4)	(288)
Total income tax provision	$ 27,450	$ 14,868	$ 1,066

Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Tax at federal statutory rate	$ 28,098,000	$ 15,078,000	$ 7,981,000
State income taxes (net of federal benefit)	1,568,000	1,037,000	439,000
Domestic production activity deduction	(2,462,000)	(1,294,000)	(88,000)
Non-deductible expenses and other	237,000	47,000	1,000
Change in tax status of entity - deferred taxes	9,000	0	245,000
Non taxable gain on remeasurement	0	0	(2,256,000)
Income attributable to partnerships	0	0	(5,256,000)
Total income tax provision	$ 27,450,000	$ 14,868,000	$ 1,066,000
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Tax at federal statutory rate	35.00%	35.00%	35.00%
State income taxes (net of federal benefit)	2.00%	2.40%	1.90%
Domestic production activity deduction	(3.10%)	(3.00%)	(0.40%)
Non-deductible expenses and other	0.30%	0.10%	0.10%
Change in tax status of entity - deferred taxes	0.01%	0.00%	1.10%
Non taxable gain on remeasurement	0.00%	(0.00%)	(9.90%)
Income attributable to partnerships	(0.00%)	(0.00%)	(23.10%)
Tax at effective rate	34.20%	34.50%	4.70%

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Nov. 13, 2013
Business Acquisition [Line Items]
Income taxes paid		$ 23.7	$ 15.2	$ 0.1
Adjustment of deferred tax (asset) liability	$ 0.2
Tax at federal statutory rate		35.00%	35.00%	35.00%
LGI GTIS Joint Venture Partners' Interests
Business Acquisition [Line Items]
Goodwill not tax deductible					$ 4.8

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Accruals and reserves	$ 176	$ 373
Inventory	1,741	913
Deferred Tax Assets, Inventory	536	527
Total deferred tax assets	2,581	1,964
Deferred tax liabilities:
Deferred Tax Liabilities, Financing Arrangements	(2,486)	(3,079)
Deferred Tax Liabilities, Prepaid Expenses	(2,078)	(1,018)
Tax depreciation in excess of book depreciation	(441)	(350)
Goodwill and other assets amortized for tax	(302)	(202)
Total deferred tax liability	(5,307)	(4,649)
Deferred Tax Liabilities, Net	(2,726)	(2,685)
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Other	84	108
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent	$ 44	$ 43

Equity - Additional Information (Detail) - USD ($)	12 Months Ended
Equity - Additional Information (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Nov. 30, 2014	Feb. 28, 2013	Jun. 30, 2011	Mar. 31, 2011	May 31, 2005	Feb. 28, 2005	Dec. 31, 2002
Class of Stock [Line Items]
Common stock shares authorized (in dollars per share)	250,000,000	250,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock shares authorized (in shares)	5,000,000
Preferred stock, par value (in dollars per share)	$ 0.01
Common stock shares issued (in shares)	21,270,389	20,849,044
Common stock shares outstanding (in shares)	20,270,389	19,849,044
Stock Repurchased During Period, Shares		1,000,000
Treasury Stock Acquired, Average Cost Per Share		$ 16.55
Shelf Registration Maximum Offering Price	$ 300,000,000
ATM Program Maximum Offering Price	$ 30,000,000
Issuance of shares (in shares)	345,760
Common stock issued price	$ 9,593,000	$ 0	$ 102,636,000
Debt Instrument, Convertible, Conversion Price				$ 21.52
Predecessor \| E D S S Holdings L P [Member]
Class of Stock [Line Items]
Limited Partner Ownership Interest							50.125%
Predecessor \| L G I Investment Fund I I L P [Member]
Class of Stock [Line Items]
Limited Partner Ownership Interest						49.875%
Predecessor \| L G I Fund I I G P [Member]
Class of Stock [Line Items]
General Partners Ownership Interest						1.00%
Predecessor \| L G I Investment I I I L P [Member]
Class of Stock [Line Items]
Limited Partner Ownership Interest					85.00%
Predecessor \| L G I Homes Ltd [Member]
Class of Stock [Line Items]
Limited Partner Ownership Interest										99.00%
General Partners Ownership Interest										1.00%
Predecessor \| L G I Homes Sunrise Meadow Ltd [Member]
Class of Stock [Line Items]
General Partners Ownership Interest									1.00%
Predecessor \| L G I Homes Canyon Crossing Ltd [Member]
Class of Stock [Line Items]
General Partners Ownership Interest								1.00%

Equity - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended								10 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Nov. 13, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share Reconciliation [Abstract]
Net Income (Loss) Attributable to Parent						$ 0	$ 0	$ 0	$ 0			$ 28,211	$ 22,327
Net income	$ 7,110	$ 15,731	$ 15,420	$ 13,977	$ 7,702	$ 7,534	$ 7,046	$ 9,037	$ 4,594	$ 14,627	$ 52,830	28,211	$ 21,737
Interest on Convertible Debt, Net of Tax											190	7
Net Income (Loss) Available to Common Stockholders, Diluted	$ 7,110										$ 53,020	$ 28,218
Basic weighted average shares outstanding	20,763,449										19,939,761	20,666,758
Incremental Common Shares Attributable to Dilutive Effect of Contingently Issuable Shares											463,609
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities											1,298,871	432,957
Restricted stock units	70,675										38,478	103,252
Diluted weighted average shares outstanding	20,834,124										21,740,719	21,202,967
Basic earnings per share (in dollars per share)	$ 0.34	$ 0.79	$ 0.77	$ 0.70	$ 0.39						$ 2.65	$ 1.37
Diluted earnings per share (in dollars per share)	$ 0.34	$ 0.75	$ 0.76	$ 0.66	$ 0.33						$ 2.44	$ 1.33
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount											23,201	3,022

Equity - Predecessor's Owners' Equity (Details) - USD ($) $ in Thousands	3 Months Ended				10 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Nov. 13, 2013	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	$ 0	$ 0	$ 0		$ 28,211	$ 22,327
Contributions							18,332
Distributions							(9,111)
Predecessor \| LGI Homes Group, LLC Members’ Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					$ 17,155		17,155
Net income					11,892
Distributions					(6,969)
Ending balance					22,078
Predecessor \| LGI Homes Corporate, LLC Members’ Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					3,431		3,431
Net income					1,884
Contributions					2,500
Distributions					(1,469)
Ending balance					6,346
Predecessor \| LGI Homes- Deer Creek, LLC Members’ Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					0		0
Net income					0
Contributions					0
Distributions					0
Ending balance					0
Predecessor \| Other Partnerships’ Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					4,625		4,625
Net income					1,441
Contributions					35
Distributions					(673)
Ending balance					5,428
Total Owners’ Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributions							2,535
Distributions							(9,111)
Total Owners’ Equity \| Predecessor
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance					25,211		$ 25,211
Net income					15,217
Contributions					2,535
Distributions					(9,111)
Ending balance					$ 33,852

Stock-Based Compensation Summary of Restricted Stock Unit Activity (Details) - Restricted stock units (RSUs) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	107,814	102,786	140,222
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	85,184	82,441	140,222
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(75,687)	(116,543)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(4,469)	(3,334)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 16.48	$ 15.43	$ 11.00
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	17.40	16.52	$ 11.00
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	16.12	11.00
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 15.85	$ 11.00

Stock-Based Compensation (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
Stock-Based Compensation (Details) - USD ($) $ in Millions	Feb. 28, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		85,184	82,441	140,222
Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 1.8	$ 0.3
Compensation not yet recognized			$ 2.8
Compensation not yet recognized, period for recognition			1 year 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance Target Period	3 years
Performance Based Restricted Stock Units [Member] \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Percent of Target Shares	0.00%	170.00%
Performance Based Restricted Stock Units [Member] \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Percent of Target Shares	200.00%	183.00%
2013 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance			2,000,000
2013 Incentive Plan \| Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 0.5	$ 0.0
Restricted stock units, vesting period			1 year
Compensation not yet recognized			$ 1.3
Compensation not yet recognized, period for recognition			2 years 3 months 18 days
2013 Incentive Plan \| Restricted stock units (RSUs) \| Management Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		56,611	37,307
Restricted stock units, vesting period		3 years
2013 Incentive Plan \| Restricted stock units (RSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, vesting period		1 year
2013 Incentive Plan \| Restricted stock units (RSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, vesting period		3 years
Certain Employees And Executives [Member] \| Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		28,573	45,134

Stock-Based Compensation Summary of Performance Stock Units (Details) - Performance Shares [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		190,017	62,906
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	127,111
Two Thousand Fourteen [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		62,906	62,906
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value		$ 17.09
Two Thousand Fifteen [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		127,111
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		127,111
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value		$ 13.34

Fair Value Disclosure (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Nov. 30, 2014	Oct. 02, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 308,192	$ 216,099
Convertible Debt, Fair Value Disclosures	74,449	76,695	$ 76,500
Other Liabilities, Fair Value Disclosure	1,425	2,196
Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	78,192	76,695
Oakmont Home Builders
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Liabilities Arising from Contingencies, Amount Recognized	$ 1,425	$ 2,196		$ 2,162

Related Party Transactions - Additional Information (Detail)				12 Months Ended
	Oct. 02, 2014 USD ($)	Jul. 11, 2014 USD ($) a	Nov. 13, 2013 USD ($)	Dec. 31, 2015 USD ($) lot	Dec. 31, 2014 USD ($) lot	Dec. 31, 2013 USD ($)
Related Party Transaction [Line Items]
Lots under land options and land purchase contracts \| lot				6,318	3,921
Related Party Business Acquisition, Land Acquired, Number of Acres \| a		1,902
Business Combination, Consideration Transferred		$ 15,400,000
Consulting agreement period			3 years
Consulting agreement, amount payable per year			$ 100,000
Predecessor
Related Party Transaction [Line Items]
Management fees earned						$ 2,600,000
Warranty fee collected upon closing sale of each home					$ 250
Warranty fees earned under management services agreement						100,000
Predecessor \| Percent of homes sales
Related Party Transaction [Line Items]
Percentage of management fee					3.00%
Predecessor \| Percent of construction costs
Related Party Transaction [Line Items]
Percentage of management fee					3.00%
Consulting fees
Related Party Transaction [Line Items]
Expenses from transactions with related party				$ 100,000		$ 17,000
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Lots under land options and land purchase contracts \| lot				106
Purchase Options, Land				$ 8,000,000
Annual Price Escalation Rate				5.00%
Deposit Assets				$ 25,000
Oakmont Home Builders
Related Party Transaction [Line Items]
Fair Value Inputs, Discount Rate	10.00%
Business Combination, Consideration Transferred	$ 17,331,000

Retirement Benefits Retirement Benefits - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]
Minimum Service Period For Employees To Be Covered Under Profit Sharing Plan	90 days
Employees Eligibility Age For Participating In Profit Sharing Plan	21 years
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	100.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	3.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount	$ 3,000
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 500,000	$ 300,000	$ 100,000

Commitments and Contingencies - Summary of Land Purchase Deposits and Option Contracts Included in Pre-Acquisition Cost and Deposits (Detail) $ in Thousands	Dec. 31, 2015 USD ($) lot	Dec. 31, 2014 USD ($) lot
Commitments and Contingencies Disclosure [Abstract]
Land deposits and option payments	$ 6,406	$ 9,591
Commitments under the land purchase option and deposit agreements if the purchases are consummated	$ 155,548	$ 86,277
Lots under land options and land purchase contracts \| lot	6,318	3,921

Commitment and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Land under Purchase Options Recorded Purchase Contracts To Deliver Finished Lots	$ 0.3	$ 7.4
Rent expense	0.8	0.7	$ 0.3
Outstanding performance and surety bonds	20.8	$ 7.7	$ 0.4
Letters of Credit Outstanding, Amount	$ 3.4

Commitments and Contingencies - Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2015 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2014	$ 590
2015	616
2016	382
2017	14
2018	0
Thereafter	0
Total	$ 1,602

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Dec. 31, 2015 USD ($) Segment business	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Number of homebuilding businesses \| business	1
Number of operating segments	5
Number of reporting segments \| Segment	1
Operating Segments \| Texas Division
Segment Reporting Information [Line Items]
Percentage of operations	55.60%	66.60%	83.60%
Intersegment Eliminations
Segment Reporting Information [Line Items]
Inter-segment sales \| $	$ 0

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended								10 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Nov. 13, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Total home sales revenues		$ 176,764	$ 173,956	$ 158,826	$ 120,690	$ 108,420	$ 92,516	$ 106,412	$ 75,919		$ 630,236	$ 383,268	$ 160,067
Gross margin		46,890	46,007	42,573	31,462	29,601	25,260	28,396	19,530
Net income before income taxes		24,092	23,221	21,246	11,721	11,574	10,534	13,904	7,067		80,280	43,079	22,803
Net income	$ 7,110	$ 15,731	$ 15,420	$ 13,977	$ 7,702	7,534	7,046	9,037	4,594	$ 14,627	$ 52,830	28,211	21,737
Net Income (Loss) Attributable to Parent						$ 0	$ 0	$ 0	$ 0			$ 28,211	$ 22,327
Earnings Per Share, Basic	$ 0.34	$ 0.79	$ 0.77	$ 0.70	$ 0.39						$ 2.65	$ 1.37
Diluted (in dollars per share)	$ 0.34	$ 0.75	$ 0.76	$ 0.66	$ 0.33						$ 2.44	$ 1.33
Basic and diluted earnings per share (in dollars per share)						$ 0.34	$ 0.34	$ 0.43	$ 0.22

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Subsequent Event Subsequent Event - Additional Information (Details) - USD ($)	Jan. 06, 2016	Dec. 31, 2015	Dec. 31, 2014	May 31, 2005
Subsequent Event [Line Items]
Line of credit facility			$ 200,000,000.0
Revolving Credit Facility
Subsequent Event [Line Items]
Line of Credit Facility, Additional Borrowing Capacity		$ 30,000,000
Line of credit facility		$ 255,000,000		$ 300,000,000
Revolving Credit Facility \| Subsequent Event [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Additional Borrowing Capacity	$ 45,000,000.0
Line of credit facility	$ 300,000,000

Label	Element	Value
Retained Earnings [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	$ 7,110,000
Noncontrolling Interest [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	(590,000)
Parent [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	$ 15,217,000