Shopping for a luxury home in Austin isn’t the same as just looking for any old or new home. The luxury real estate market it quite different. It includes different neighborhoods, different types of homes, different features and a higher price point.
Typically, any property priced at $1 million or above is considered a luxury home. However, many homes above $500K could fall into this category. When you’re searching for a luxury home in Austin, make sure you follow the tips below.
Choose a Local Expert
Your real estate agent will make a big difference. You need a local expert with experience in the top Austin luxury neighborhoods. If you already know the neighborhoods you’re targeting, find an agent with a high level of experience with buying and selling in those specific areas of Austin.
A local expert will know what the market is supporting for specific types of homes. You’ll have an expert negotiator on your side that understands the luxury market, as well. Don’t hire just any real estate agent. Hire a local expert with experience buying and selling the luxury real estate in Austin.
Figure Out What You Want Before You Shop
The luxury real estate market supports far more customization and flexibility than the more moderately priced market. You need to know what you want before you start looking. Understanding what’s best for your family, the quality of life you prefer and your own tastes will go a very long way.
Searching for an average home provides a plethora of choices. There are hundreds, if not thousands of available homes priced between $250K and $450K in Austin on a monthly basis. However, when you crack the $500K price, the number of available properties becomes smaller. Go beyond $1 million and you’ll have even fewer properties to choose from.
Your dream home may not be up for sale yet, but if you’re patient, it could be a month or two from now. When you’re ready to enter the luxury real estate market in Austin, make sure you’re ready to take your time. Shopping for the perfect luxury home isn’t the same as shopping for just any home. It may take months to find the right home for you.
Listing Pictures Only Matter a Little
The luxury market requires you to take a different approach compared to the average real estate market. Listing pictures still matter, but they are only worth 1,000 words, not 10,000 or 100,000 words.
The pictures could be incredible and the video walkthrough you saw online could be great. Heck, you might have even looked at a super fancy brochure that feels like a million bucks in your hand. This doesn’t mean the home is worth the price it’s listed for or even the right fit for you.
When searching on the luxury market, the pictures and video walkthrough were likely done by professionals, along with that glossy brochure. The home is likely staged by a professional, as well. This is all fine, but you need to see it and feel it to know it’s for you.
Even if you have to get on a plane to fly to Austin, you need to enter the home, see it with your own eyes and feel the vibe you get from the home. Luxury homes are often very large and you may not see everything through pictures and video.
Spend Time Feeling Out the Area
Reading online descriptions about the neighborhood helps, but you need to get a true feeling for yourself. The location matters, of course, and the neighborhood you choose to call home matters, too.
Take the time to do your market research and look into what the neighborhood offers. Is it a country club neighborhood with a golf course, tennis club and social club? Does the neighborhood offer lake access or another amenity you really prefer?
The amenities and location impact the price and will likely impact your like or dislike for the neighborhood. Make sure the neighborhood fits your specific needs.
Where to Find Luxury Real Estate in Austin
Now that you have a few tips to help you buy a luxury home in Austin, Texas, you should know where to search. Here’s a quick look at some of the top luxury neighborhoods found throughout Austin.
Those seeking a luxury home in Austin at the lower end of the luxury market will love Caslano. It’s found just past the very popular Steiner Ranch neighborhood on Lake Austin. Only 38 homes are found in Caslano and all provide between 2 and 12 acres of space. The homes found here are all custom built and 18 of them provide lake access.
Another luxury community in Austin, Belvedere offers home above $1 million. It’s a great choice for those looking to live just outside the city. The community is gated and loaded with great amenities. Luxury homes in Belvedere offer energy efficient features with plenty of custom options.
Homes in Costa Bella start to get a bit more expensive with many starting near $2 million and going up to more than $7 million. These homes are truly luxurious and offer plenty of incredible features.
A total of 62 homes are found in Costa Bella with 14 waterfront options. The neighborhood is located on Lake Travis and a 72-slip private marina is a part of the community. In addition, Costa Bella offers a large community center, tennis courts, a swimming pool and many other great amenities.
It’s not easy to find a home for sale in Stratford Hills. This exclusive neighborhood offers five waterfront options with incredible downtown views. Those looking to live in a luxury neighborhood closer to downtown Austin will enjoy calling Stratford Hills home.
Island at Mt. Bonnell Shores
The most expensive luxury community found in Austin is the Island at Mount Bonnell shores. This gated community is found along Lake Austin on a private island. Every single home is found on the water and provides a truly custom option.
Interior features of the homes include high ceilings, very large windows and grand foyers. If you prefer incredible privacy and you want to be on Lake Austin, this community is a great choice.
There are several options for the luxury real estate in Austin. These five neighborhoods are some of the top choices, however. If you’re searching for a luxury home in Austin, Texas, make sure you hire the right real estate agent to help make your dreams come true.