Lakeway and Steiner Ranch - too far out? (Austin, Spring: for sale, real estate)

[transatlantic]

We're coming to Austin in July to househunt (max $650K) and want a house with a pool and a min. 1/3 acre lot. The real estate agent is flooding us with houses for sale in Lakeway and Steiner Ranch. Both look very pretty but both seem a little far out and isolated for us - who would be retired, but would like to be able to go into town in the evening to restaurants, movies, etc., and not have to drive 20 min to get to a supermarket. That so many houses are for sale in those areas seems a little worrying, too, like the areas were overbuilt and dying off.

Are they as isolated as they appear to me (at a great distance) to be?

Thanks!

[RowdysMom]

Lakeway/Steiner Ranch would be too far out for me too - but that's just me. Many people live out there and drive into Austin everyday for work, etc. I wouldn't want to though. The drive can be really tough in rush hour. If I didn't have to drive to town every day, I might consider it - there are some fabulous homes out there. Likewise, there are some wonderful homes/property just west of downtown in the Westlake area. With your budget, I would think you could live most anywhere you wanted in and around Austin. Maybe I'd get a different real estate agent!

[neddy]

You are not going to have to drive 20 mins to get to a grocery store in those areas unless you are in the very back of Steiner and at the very tip of that pennisula in the lakeway area. Lots of folks live out there so you have lots of traffic to deal with. I think the reason so many homes are for sale is the fact that Texas has such high property taxes and lots of folks that move to the area do not take that into consideration. There are lots of food places around there. My brother lives over there and loves it. I had to find a flatter area cause my kid gets car sick and couldn't make him to the hills every day!

[AustinTraveler]

If I were you I would be looking in the Northwest Hills, Balcones areas, the 78731 zip code. Beautiful hilly areas just west of Mopac but much closer to Central and Downtown.

[centralaustinite]

For me, they are way way far out!

I agree with the suggestion of 78731! Much better proximity to downtown and Austin itself.

[AustinBound2012]

First, let me say thank you to all the members of this forum. My wife and I are moving to Austin next year and for the past 2 I have used this forum as the foremost resource for researching anything and everything in preparation. It has certainly been fun being a fly on the wall of Austin residents.

One thing I do want to clarify, which I see quite often all around the forum, is property tax. Yes, the property taxes are fairly high, but I want to give Austinians a little perspective in regards to something you are blessed to avoid...state income tax. My wife and I pay $10,000 income tax a year here in the northeast.

That being said, please take into consideration how much people outside of Texas are paying in income tax before so quickly alerting them of the property tax nightmare. There will be times it may be close to a wash.

[AustinTraveler]

Well, I moved here from a no income tax state and our property taxes were about a third of what they are here in Texas. So, I really think alerting people to the property taxes is a good idea, especially when you consider that most people have mortgages and the taxes significantly affect that monthly payment.

[mr&mrs_k]

You don't have to go downtown to eat out, see movies etc. We have lots of options for that out this way. We moved to Lakeway last summer and love it here. There are so many options for places to eat, we have a brand new movie theater right down the road in Bee Cave, and two beautiful shopping centers 5 minutes away from Lakeway. I drive 2 minutes to get to a Randall's, 5 minutes to HEB. Steiner Ranch is about to get their own Randall's at the entrance to the neighborhood. It's beautiful out here, we definitely don't feel far out. I hope you will give this area a chance, you'd be able to get what you're looking for in your price range, with a nice view. We're a young family, and Lakeway has definitely been for us at least.

[10scoachrick]

Originally Posted by AustinBound2012

That being said, please take into consideration how much people outside of Texas are paying in income tax before so quickly alerting them of the property tax nightmare. There will be times it may be close to a wash.

Certainly plenty of discussion regarding the trade-off. Moving from Sandy Springs(Atlanta), we 'dropped' the state income tax and ~1% ad valorem vehicle tax(nearly $1k/year for us) in 'exchange' for the higher(~3x) home property tax. Works out great for us in prosperous years, income-wise; but, looks like a less attractive set-up as retirement years approach. Not much chance of an ag exemption out here in Avery Ranch; so those prop taxes will be a considerable chunk as income decreases(most likely) in the future.

No free lunch, as they say(I actually believe in free lunches) but certainly some numbers worth considering. We also pay a bit less for homeowners and auto insurance(now with much more house and more expensive vehicles) but that might be offset by increased sunscreen costs.

I think one big concern, property tax-wise, was for folks who bought a modest home in an area that saw considerable appreciation and got socked with property taxes that jumped from, say $3k to $10k(over a period of time, given the restrictions, of course). A comparable increase in personal income tax would have meant a considerable increase in income(YMMV, good accountant and all that).

Also, the 'no state income tax' benefit applies state-wide; even in areas that don't have particularly high property taxes or on properties with an ag exemption. Whew!

[AustinBound2012]

There are 6 other states out of 50 that do not tax income on some level, but i digress.

I agree that telling people about the high property, even if a large majority of people are moving to Austin from states with income tax, is a good idea and helpful. I was simply stating that it seems to be one of the first and pointed things people say adamantly. I would imagine if I lived somewhere where I did not have to contend with something particular that most of the country did have to contend with, over time I would forget it exists.