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THL- have you been out there since they put in the Bee Cave Parkway bypass? You can now avoid the 620/71 intersection all together and go straight from 620 to Bee Cave Rd. Also, they have improved the 620/71 intersection immensely and it's not near as bad as it used to be. However, coming up 71 from Hamilton Pool Rd, it still backs up turning on to 620 for some reason.
To the OP - I was going to mention the whole Bee Cave area as well. With your budget, there are several opportunities out that way. Schools are great, shopping is close (and growing by the minute!) and you are close enough to Austin to enjoy all the amenities. There are lots of little pockets of development all along Bee Cave - some are small gated communities, some larger communities like Lake Pointe or Falconhead. You probably need a realtor familiar with the area to point you in the right direction, but it's definitely worth a look.
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