Austin, TX is home to a thriving luxury real estate market, with high-net-worth investors buying the city’s stock of luxury residential properties. Sales of these homes totaled $189 million by 2021, up an eye-opening 562 percent from 2020, and ranked second only to suburban Long Island, New York, where luxury home sales went up by 854 percent.
Estate 3 Wildcat Club – Clayton Korte Architects
There has been an exodus from places like California, Chicago, and New York and many are moving to Austin for its high quality of life, tax-friendly environment, and also for the impressive luxury homes available in the market. The influx has been so great that new constructions are required and developers are responding.
Here we’ll look at what you can expect from luxury new construction in Austin Texas.
What is the luxury real estate scene like in Austin, TX?
An example of the boom in luxury new construction is the ultra-exclusive, Wildcat Club development. Located in the prestigious West Lake Hills neighborhood, the development is comprised of 6 custom estates, each designed by one of Austin’s leading architectural firms. Prices will be listed in the low 8 digit figures. The project features the work of the most recognized architects in the region, as well as 2 nationally recognized tech companies. The developer’s goal was to create new, architecturally significant homes that are not only luxurious, but also unique, redefining what modern luxury living means.
Prices for luxury properties in Austin, TX start at around $3 million, but some properties are truly spectacular and can go for as much as $35 million. Expect to find amenities including smart appliances and technology systems, spa-like bathrooms, professional-grade kitchens, and ample outdoor living space. Beyond these details homes often provide highly-sought after features like wine rooms, dedicated entertainment and recreation areas, swimming pools, pool houses, and private gyms.
Benefits of newly constructed homes
The majority of homes in the area date back to 1960, although newly-constructed properties are steadily becoming more prevalent in the city and its neighborhoods.
Here are some of the benefits that come with buying new construction homes in Austin, TX:
New construction homes are designed for modern lifestyles.
The majority of existing properties in Austin were built during the late 80s, making some features and styles outdated. For example, the homes of the 80s and 90s emphasized spaces to accomodate large entertainment centers in the living area, to showcase what was then, modern technology.
Today there is much more of a desire to seamlessly integrate and blend technology into our surroundings. Much of the set up for a home entertainment system are now hidden, and speakers are often set flush into walls. Smart homes are controlled by voice or mobile devices, centering the home around the desires and demands of the resident, while adding to a sense of personal customization. Today, the goal is to emphasize home functionality, while making the technology as unobtrusive as possible.
New construction homes are built to be energy-efficient.
Older homes can mean poor insulation and faulty ventilation, which can lead to problems like reduced air quality, pest infestation, and mold. Aside from costing more in heating and cooling bills, old windows and poor insulation can also affect your health.
New homes are far more energy-efficient and better sealed from the elements compared to current properties, saving investment in the long run. Not only that, but new construction homes are also built with higher-quality building materials and have eco-friendly elements already built in, all of which can help improve their residents’ overall quality of life as well as being more friendly to the environment.
New construction homes come with warranties.
Many existing homes are sold on an “as-is-where-is” basis with maybe some minor repairs required. This leaves buyers to deal with possible structural issues on their own once the properties get turned over to them. Purchasing new construction properties provides buyers peace of mind since these properties are often covered by warranties from the home builders themselves.
At present, new construction homes are covered by warranties from home builders for up to two years, which means any problems that come up during that period can be repaired immediately. Do note, however, that not all home builders are equal, and that the warranties they supply to buyers can vary significantly. Check with the Better Business Bureau (BBB) to see if your builder is well-regarded when it comes to its warranties.
New construction homes require less upkeep and are cheaper to maintain.
While new construction homes are initially more expensive than existing properties, they do come with a significant financial benefit for their buyers: low maintenance costs. This is due to the fact that newly built homes have top-of-the-line features and facilities, adhere to the most recent building laws and safety regulations, and are engineered to require less upkeep.
Austin’s Most Desirable Architectural Styles for Your New Construction Home
Named one of the best cities to live in, Austin, TX has a long and colorful history, a major reason behind the city’s amazing architecture and design scene.
Here are some of the most popular architectural design styles for new construction, and resale of luxury homes in Austin, TX:
The following homes are listed or sold by Darin Walker, Kuper Sotheby’s International Realty
The modern style focuses on clean geometric lines, many of which are asymmetric, making them a striking feature. There’s an avoidance of anything that’s overly ornate, such as columns or window shutters as simplicity is favored over opulence. Light is brought forward as a main consideration and the materials used lean towards neutral.
Estate 1 – Wildcat Club – Jay Corder Architects
The foundation of contemporary architecture, an ever-evolving architectural style, is the idea of fusing numerous components from many architectural movements. The use of eco-friendly and sustainable materials, as well as open and airy floor plans that maximize natural light, are some of the fundamental characteristics of contemporary-style homes.
Estate 4 – Wildcat Club – System D Architects
Perched between the exciting and dynamic nature of Modern or Contemporary style and something more traditional is Transitional architecture. While there is a strong emphasis placed on open and light interiors, and clean dynamic lines, there is much more tolerance for ornate fixtures and fittings. This style is perfect for creating homes that look and feel modern yet retain the warmth and cosiness of traditional homes.
Tarrytown Transitional – Jay Corder Architects
Modern Farmhouse –
Ranch-style homes are a staple sight in Austin and other parts of Texas. Popularized in the 1940s, this particular architectural style incorporates aspects from both conventional Western architecture and contemporary designs, making it an attractive option for many home buyers. Straightforward yet graceful in form, homes built in this style include features such as an open concept floor plan, patios and decks, large windows and sliding glass doors, low-pitched and wide-eaved roofs, a finished basement, and an attached garage.
Madrone Ranch Farmhouse – Forge Craft Architects
Spanish Colonial –
Dating back to the early 20th Century, Spanish Colonial architecture is popular in Austin, TX, with homes in this style resembling Santa Barabara style homes from California. Spanish Colonial homes have distinct features, most of which are designed to keep their interiors cool even on hot days. These include bright, white exteriors, flat roofs, wooden shutters, and open-air courtyards.
Santa Barbara Estate in Rollingwood – Ryan Street Architects
Texas Hill Country Contemporary –
Rustic, elegant, and well-crafted, the Texas Hill Country style is characterized by its emphasis on woodworking and masonry. Pioneered by European immigrants in the 1800s, Texas Hill Country homes are anchored on several important details such as small, gridded front windows, stacked limestone accents, wood pillars and rafters, gabled roofs, two-story construction, and outbuildings. Texas Hill Country homes also have open floor plans, high ceilings, and dark wood floors.
Belle Hill Estate in West Lake Hills – Cornerstone Architects
Mediterranean-style homes are another fixture in the Texas architectural and design scene. The style of choice for many mansions and estates, Mediterranean architecture draws inspiration from countries such as Italy, Portugal, Spain, Greece, and Morocco. Homes built in this style are known for their distinctive characteristics, including red clay roof tiles, heavy use of stucco and wrought iron, ornate archways, grand balconies, and expansive outdoor living spaces.
Old World Mediterranean – Jauregui Architects
Mid-Century Modern –
Mid-Century Modern architecture is another popular choice for new construction homes in Austin, TX. First developed in the 1930s and adopted well into the late 1960s, Mid-Century Modern architecture is characterized by very wide, low footprints with large, open spaces, floor-to-ceiling windows, and an emphasis on bringing the outdoors in.
Why You Should Build A New Construction Home With A Real Estate Agent
If you’ve ever considered investing in a new residential development or community, you may have had builders tell you that you don’t need a real estate agent when purchasing new construction properties. While this may be technically true, there are major benefits that come with hiring a real estate agent when building a new construction home in Austin, TX. Here are some of them:
Real estate agents will make things easier for you.
A real estate agent has the knowledge and expertise to guide you through the buying process and ensure that you’re getting the best deal possible. They can provide valuable insight into the builder and the community, as well as help you navigate any potential issues that may arise during the construction process, such as delays or changes in plans.
Real estate agents can help you find the best builders in your area.
One of the main advantages of working with an agent is that they can give you a list of the best builders in your preferred area, provide you with valuable insight and information about the type of work they do, their reputation, and their overall track record. Aside from providing you with a list of builders in your area, your real estate agent can also help you come up with good questions to ask them once you get around to interviewing potential candidates.
Real estate agents can help you understand contracts.
When buying a new construction, it is important that you fully understand the contracts involved in the process. An experienced real estate agent can help guide you through the fine print of these complex documents. In addition, your real estate agent will be able to work with the builder to ensure that all of the terms and conditions you need are clearly stated in the contract.
Real estate agents can help point you to good financing options.
It’s fairly common for builders to refer you to in-house lenders and mortgage brokers during the start of your home-buying process. While it may be that builders are leading you to good deals, choosing to go with in-house lenders can sometimes lead you to less-than-ideal situations with higher interest rates and shorter payment terms.
By hiring a real estate agent, you will be pointed to a much wider choice of lenders and financing options that best suit your needs.
Real estate agents have a wide professional network and access to properties privately listed.
When buying or commissioning a new construction home, there is the pressure to find not only a lot, but contractors and other industry professionals. Real estate agents—especially those who are well-established in the industry—often have an extensive professional network of people who can provide you with everything you need to help you achieve your goal. These include real estate lawyers, mortgage professionals, appraisers, architects, and interior designers, as well as carpenters, furniture shops, and landscape artists, to name just a few. In the Austin market, a substantial number of properties are marketed privately through agents specializing in luxury real estate.
Real estate agents will negotiate on your behalf.
One of the most important reasons to have an agent is being able to count on their negotiation skills. Real estate agents are trained professionals who know how to navigate the buying process and can help negotiate conditions like adding in upgrades to the home, having the builder cover closing costs, or negotiating extensions on warranties.
Invest in a new construction home in Austin, TX with Darin Walker today!
The #1 West Austin producer at Kuper Sotheby’s International Realty and a member of Elite 25 Austin and Luxury League, Darin consistently ranks in the top .25% of agents in the Austin market with over $300 million in sales. Darin specializes in architecturally significant new construction and offers insider access to off-market luxury homes you won’t find online.
Specializing in the Westlake, Rollingwood, & Central Austin neighborhoods, Darin’s extensive knowledge of land use and building codes comes not only from nine years serving on the West Lake Hills City Council, but working with Austin’s most talented luxury home builders, architects, and interior design firms. As a result, his off-market inventory includes some of the finest ultra-luxury custom homes and newly constructed residences on the market.