Austin Real Estate: What Can You Buy for $1 Million?
published on April 10, 2013
What does a cool $1 million buy in Austin real estate? We all know that Austin real estate is considered more expensive than the rest of the state, while those from outside of Texas tend to think Austin homes are relatively inexpensive. But, perspective aside: one thing we all understand is how many dollar bills it takes to reach a million.
So what will one million of those bills buy today?
First of all, $1 million is generally considered the threshold, in Austin’s terms, for a house being considered a luxury home. This means you can count on that million bringing you a “really nice house” or a “pretty good house” on a stellar lot.
Secondly, homes around the million dollar mark often are in well-known parts of town, like Westlake, Barton Creek, or Tarrytown. Lake Austin? Not quite, unless you luck out and happen to find an older or smaller, un-remodeled home being sold mostly for the property. (Buy it fast!) Lake Travis? Maybe, if you are willing to go a little further out or where water levels are more susceptible to drought. Still, lake views are more likely than actual waterfront on either lake with “just” a million dollars in your pocket.
Thirdly, consider proximity to city central. Million dollar homes in downtown (like condos) will buy a tiny amount of living space. Go west of MoPac, and you’ll start to stretch your legs a little more. Head all the way to a hill country area like Dripping Springs, and you might find room to roam for yourself and whatever people or animals you bring with you.
And what about fancy things like helipads, grand ballrooms, gold-leaf columns, three-story conservatories, underground equestrian centers? You’ll find some of those finer things, for sure, but in smaller doses than in the multi-million to $20 million price range. (It’s fun to take a look at our Luxury Home Lingo Guide to learn about some of the awesome features luxury homes can offer. You also might enjoy reading about the difference between a luxury home and a mansion.)
We have arrived at the grand denouement! Enjoy perusing this selection of Austin homes available today for $1 million:
Like what you see? Regent Property Group specializes in Austin luxury homes. Contact us today at 512.215.0565 to learn more about your options!
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