Property and Equipment (Tables)

12 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

Depreciation is computed on a straight-line basis based on estimated useful lives as follows:

Asset Class	Useful Lives
Buildings and improvements	25 - 30 years
Information systems	Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures and computer and office equipment	3 - 7 years
Model and sales office improvements	Lesser of estimated useful life of the asset or estimated life of the community
Leasehold improvements	Lesser of the lease term or the estimated useful life of the asset

The following table presents our property and equipment as of September 30, 2022 and 2021:

in thousands	September 30, 2022		September 30, 2021
Model furnishings and sales office improvements	$	22,544	$	19,617
Information systems	23,074		18,628
Furniture, fixtures and office equipment	11,019		10,613
Leasehold improvements	4,124		4,279
Buildings and improvements	1,671		1,671
Property and equipment, gross	62,432		54,808
Less: Accumulated depreciation	(37,866)		(31,923)
Property and equipment, net	$	24,566	$	22,885