The Westlake Austin House Hunt: What We Would Choose at $2M, $3M and $5M
Give three Realtors the same budget.
Show them the same three houses.
Would they choose the same one?
Probably not.
Now make one of those Realtors an interior designer.
One a former CPA and financial analyst.
And one a negotiator with more than 20 years of real estate experience.
The conversation gets interesting.
That’s essentially how we work at The Council.
When we’re walking through a house in Westlake, I’m looking at:
What could this become?
Albina is thinking:
Do the numbers make sense?
Holly is asking:
Are we buying this correctly?
So let’s go house hunting.
We’re going to give ourselves three hypothetical budgets:
$2 million
$3 million
$5 million
And at each price point, we’ll choose between three very different Westlake-area properties.
These aren’t actual listings.
They’re fictional scenarios based on the kinds of trade-offs buyers regularly encounter when searching in Eanes ISD.
And here’s the rule:
We can’t have everything.
Because that’s the part of luxury real estate nobody tells you.
Even with a $5 million budget, you’re still making choices.
The $2 Million Westlake House Hunt
You’ve been approved around $2 million.
You want Eanes ISD.
You’re a family of four.
You’re moving from Los Angeles.
You want:
Four bedrooms.
Office.
Outdoor space.
Good natural light.
Room for a pool would be nice.
And you don’t want a massive renovation.
Here are your three houses.
House A: The Pretty One
Approximately $1.95M
4 bedrooms
3.5 bathrooms
Approximately 3,300 square feet
Beautifully renovated
Great kitchen
Pretty staging
Smallish lot
No pool
Limited privacy
Good location
You walk in and immediately say:
“Ohhhhhh.”
Everything is done.
White oak.
Beautiful lighting.
Gorgeous kitchen.
Great furniture.
It photographs beautifully.
This is the house you’re going to send your friends.
Natasha’s Take
I like it.
But I’m immediately trying to separate:
The house
from
the styling.
Take away the furniture.
Take away the art.
Take away the accessories.
What am I buying?
I’m looking at:
Natural light.
Ceiling height.
Windows.
Architecture.
Lot.
Privacy.
And how the house sits on the property.
I don’t want us paying an enormous premium for things we could recreate ourselves.
Albina’s Take
How much of that $1.95 million is the renovation premium?
What did comparable properties sell for?
What does the smaller lot mean for long-term desirability?
What would it cost us to create something similar elsewhere?
And what are the total ownership costs?
Holly’s Take
How much competition does it have?
Is everyone else having the same emotional reaction?
Because if they are, our negotiating position may be very different.
A beautiful house can be the right house.
But we’re not going to confuse:
“I love it”
with
“I’ll pay anything for it.”
House B: The Ugly Duckling
Approximately $1.75M
4 bedrooms
3 bathrooms
Approximately 3,500 square feet
Dated kitchen
Old flooring
Questionable lighting
Fantastic natural light
Beautiful trees
Larger lot
Good privacy
Potential pool location
The photos are terrible.
You almost don’t want to see it.
I do.
Natasha’s Take
Now I’m excited.
I walk in and think:
Don’t confuse ugly with bad.
Ugly can be:
Paint.
Tile.
Lighting.
Cabinets.
Flooring.
Furniture.
Bad is:
Terrible lot.
Bad proportions.
No natural light.
Awkward orientation.
Unfixable floor plan.
No privacy.
This house might have something.
Albina’s Take
Now we’re doing math.
Purchase:
$1.75M.
Let’s say our initial renovation concept is:
$250,000.
Then it becomes:
$350,000.
Then someone says:
“While we’re doing this…”
Now I want a contingency.
Suddenly our $1.75M bargain may become a $2.2M project.
That’s not necessarily bad.
But we need to compare the finished investment with what we could buy already completed.
Holly’s Take
This is where I want to know:
How long has it been listed?
What feedback has the seller received?
Has the price changed?
Are buyers being scared away by cosmetics?
Does the seller understand what they have?
There may be opportunity here.
House C: The Lifestyle House
Approximately $1.85M
4 bedrooms
3 bathrooms
Approximately 3,100 square feet
78733
Eclectic architecture
Pool
Beautiful trees
Near Lake Austin
More relaxed neighborhood feel
Longer drive to some central Westlake destinations
Some updates needed
This one feels completely different.
Natasha’s Take
This is where I ask:
How do you want to live?
Because if you tell me:
We want trees.
Pool.
Lake.
Neighbors.
Kids outside.
More relaxed.
Community.
This may beat House A immediately.
Not because it’s objectively better.
Because it’s better for you.
Albina’s Take
Now we’re comparing things that don’t fit neatly into price per square foot.
Pool.
Lot.
Location.
Condition.
Lifestyle.
Future improvements.
And ownership costs.
This is where spreadsheets need context.
Holly’s Take
And this is exactly why you can’t compare every Eanes property the same way.
A Cuernavaca or Austin Lake Estates buyer may value something completely different from a buyer focused on another part of Westlake.
Our $2 Million Choice
We probably eliminate House A unless the buyers truly prioritize turnkey living.
Then the conversation becomes:
House B versus House C.
If the buyers want:
Central convenience + renovation potential?
House B gets very interesting.
If they want:
Pool + lake lifestyle + trees + community?
House C gets very interesting.
Notice what we didn’t do?
Choose based on the prettiest kitchen.
That’s intentional.
Read our guide to buying the best house versus the best lot in Westlake and you’ll understand why.
Now We Have $3 Million
New buyers.
Different life.
You’re moving from New York.
Two children.
You want:
Eanes ISD.
Pool.
Office.
Space for guests.
Privacy.
Good commute.
You entertain.
You can renovate, but you’d rather not spend two years doing it.
Let’s go.
House A: Turnkey at $3 Million
Approximately $3M
5 bedrooms
4.5 bathrooms
Beautiful renovation
Pool
Good outdoor living
Medium-size lot
Great kitchen
Strong floor plan
Move-in ready
Not particularly architecturally unique
This is the easy choice.
Natasha’s Take
There’s nothing wrong with easy.
Sometimes people think because I’m a designer, I always want the project.
I don’t.
Sometimes the smartest thing is:
Buy the house and go live your life.
If you love it?
Great.
Albina’s Take
Turnkey has value.
You’re potentially avoiding:
Renovation.
Architect.
Designer.
Temporary housing.
Construction surprises.
Carrying costs.
And time.
That value is real.
Holly’s Take
But I’m still looking at whether the market supports the price.
Turnkey doesn’t mean:
Pay whatever the seller asks.
House B: The Incredible Lot
Approximately $2.6M
4 bedrooms
4 bathrooms
Older home
Dated interiors
Beautiful architecture underneath
Exceptional lot
Mature trees
Privacy
Room for pool
Strong location
Needs substantial renovation
You walk through the front door.
Your spouse says:
“Absolutely not.”
I say:
“Wait.”
Natasha’s Take
I want everyone to stop looking at the tile.
Walk outside.
Now turn around.
Look at the house.
Look at the trees.
Look at the light.
Look at the relationship between the structure and the land.
Can we make this great?
If yes, now I’m interested.
Albina’s Take
I’m ruining the romance with math.
$2.6M purchase.
Maybe $600,000 renovation.
Pool.
Landscape.
Contingency.
Potential carrying costs.
Now we’re well above $3 million.
Does that finished investment make sense?
That’s the question.
Holly’s Take
And can we buy the project at a number that recognizes the work?
If we’re taking on the risk, I don’t want to pay the seller as though the renovation has already been completed.
House C: Smaller House, Better Location
Approximately $2.85M
4 bedrooms
3.5 bathrooms
Approximately 3,200 square feet
Renovated
Pool
Smaller lot
Excellent location
Close to central Austin
Easy commute
Not a huge house
But everything works
Natasha’s Take
This is where buyers get hung up on square footage.
They say:
“For almost $3 million, shouldn’t we get more house?”
Maybe.
But do you need more house?
If the floor plan is fantastic and every room gets used, I may prefer this over 5,000 square feet of wasted space.
Albina’s Take
Price per square foot may make House C look expensive.
That doesn’t necessarily mean it’s overpriced.
Location and scarcity have value.
Holly’s Take
And properties that appeal to a broad buyer pool can behave differently in negotiations.
We need to understand competition.
Our $3 Million Choice
This is close.
For a buyer who wants certainty?
House A.
For a buyer who values location and doesn’t need massive square footage?
House C.
For the design-minded buyer willing to take on a project for an exceptional underlying property?
House B.
Which is why there is no universal “best.”
Our full guide to what a $3 million Westlake home should offer goes deeper into this price point.
Now Give Us $5 Million
Surely now we get everything.
Right?
Let’s see.
House A: The New Build
Approximately $5M
New construction
5 bedrooms
6 bathrooms
Pool
Designer finishes
Smart-home features
Beautiful primary suite
Multiple living areas
Excellent outdoor kitchen
Smaller lot
Less mature landscaping
Very polished
You walk in.
It smells new.
Everything is perfect.
Natasha’s Take
I’m looking past the finishes.
Again.
At $5 million, beautiful finishes should not distract me from:
Architecture.
Light.
Proportion.
Construction quality.
Lot.
Privacy.
Orientation.
And flow.
New does not automatically mean great.
But if those things are also excellent?
Now we have something.
Albina’s Take
New construction can reduce certain immediate renovation needs, but I still want to understand:
Purchase premium.
Taxes.
Insurance.
Maintenance.
And market support.
The price tag doesn’t exempt us from financial analysis.
Holly’s Take
New construction also creates an interesting negotiation environment depending on:
Seller.
Builder.
Inventory.
Market time.
Demand.
And terms.
Every deal is different.
House B: The Estate
Approximately $4.7M
Older custom home
Larger lot
Mature trees
Exceptional privacy
Pool
Guest space
Beautiful proportions
Some dated finishes
Incredible grounds
This is the house you can’t fully understand online.
Then you arrive.
And everyone gets quiet.
Natasha’s Take
This is usually my danger zone.
Because I love things you can’t easily recreate.
Mature trees.
Scale.
Patina.
Privacy.
Architecture.
Land.
If the bones are extraordinary, I’m willing to forgive a lot of brown tile.
Albina’s Take
I’m estimating the modernization cost before Natasha has mentally demolished the kitchen.
Because at this level, “we’ll just update it” can become an extremely large number.
Holly’s Take
And I’m trying to figure out whether the dated presentation is creating negotiating leverage.
Other buyers may be unable to see past it.
We can.
That can create opportunity.
House C: The View
Approximately $5M
Modern home
Dramatic hillside location
Incredible Lake Austin or Hill Country views
Pool
Beautiful architecture
Less usable yard
More complex topography
Privacy
Major visual impact
You walk in.
And the view stops you.
Natasha’s Take
This is the hardest one.
Because you cannot renovate your way into that view.
You either have it or you don’t.
But I still ask:
Do we want to live on this property?
Or do we want to photograph it?
How does the driveway feel?
Where does the dog go?
Where do kids play?
Where do we entertain?
Does the house function?
Beauty matters.
Life matters more.
Albina’s Take
Complex properties deserve complex analysis.
Site.
Maintenance.
Insurance.
Pool.
Retaining structures.
Long-term expenses.
And potential resale.
The view may be extraordinary.
We still run the numbers.
Holly’s Take
Unique properties can also have unique buyer pools.
That matters when we’re negotiating today and eventually when you sell.
Our $5 Million Choice
This is where it becomes very personal.
Want turnkey luxury?
House A.
Want land, privacy and irreplaceable character?
House B.
Want architecture and an extraordinary view?
House C.
At $5 million, the question isn’t:
Which house has the most stuff?
It’s:
Which irreplaceable thing matters most to you?
That’s the Secret of Luxury Real Estate
Luxury isn’t having every feature.
It’s having the things that matter most to you at an exceptional level.
For one person:
View.
Another:
Land.
Another:
Architecture.
Another:
Water.
Another:
Privacy.
Another:
Walkability.
Another:
A giant kitchen filled with people every Sunday.
That’s why luxury is personal.
What Natasha Notices First
When I walk into a property, my first scan is almost automatic.
I’m looking at:
Light.
Ceiling height.
Proportion.
Sight lines.
Windows.
Architecture.
Relationship to outdoors.
And what I can see beyond the house.
Then:
Can I make this great?
That’s my question.
What Albina Notices First
Albina brings us back to earth.
She’s looking at:
Price.
Comparable sales.
Taxes.
Renovation.
Carrying costs.
Competition.
Resale.
And the total investment.
Her question:
Do the numbers work?
What Holly Notices First
Holly is reading the deal.
Market time.
Seller.
Competition.
History.
Objections.
Terms.
Leverage.
Her question:
Can we buy it right?
Why We Don’t Always Agree
This is actually one of my favorite things about working together.
I might say:
“This house could be incredible.”
Albina:
“For another $900,000.”
Holly:
“Then we need to buy it for less.”
That’s the conversation.
And it’s much more useful than three people walking through a house saying:
“So cute.”
How Buyers Get Distracted
At every price point, I see buyers distracted by:
Furniture.
Paint.
Tile.
Wallpaper.
Lighting.
Staging.
And trendy finishes.
Those are the easiest things to change.
What Buyers Should Pay More Attention To
Location.
Lot.
Privacy.
Natural light.
Architecture.
Orientation.
Floor plan.
Topography.
Views.
Noise.
Neighbors.
And what you cannot easily recreate.
That’s why our guide to buying a dated home in Westlake begins with essentially the same philosophy.
The House You Almost Skip May Be the One
This happens.
Bad listing photos.
Ugly furniture.
Dated kitchen.
Strange paint.
You almost don’t go.
Then you walk in.
Beautiful light.
Fantastic lot.
Great architecture.
Privacy.
And suddenly:
Oh.
That’s why I don’t like eliminating potentially strong properties based only on cosmetic presentation.
The Opposite Happens Too
Gorgeous photos.
Perfect staging.
Beautiful fixtures.
You walk in.
Road noise.
Dark.
Tiny backyard.
Neighbor looking directly into the primary bedroom.
That’s why online shopping is the beginning of the search.
Not the end.
What About School District?
If Eanes ISD is a requirement, verify the exact property.
Don’t rely solely on:
ZIP code.
Neighborhood name.
Listing portal.
Or the word “Westlake.”
Use current information from Eanes ISD for the exact address.
Our Eanes schools and neighborhoods guide can help you understand the broader geography.
What About 78746 vs. 78733?
At each of these budgets, I would consider both if they fit the buyer’s priorities.
They offer different experiences.
78746 can put you closer to:
Central Austin.
Established Westlake neighborhoods.
Rollingwood.
West Lake Hills.
78733 can bring:
Cuernavaca.
Austin Lake Estates.
Lake Austin influence.
Eclectic homes.
Trees.
Interesting lots.
And a more relaxed environment.
Read our 78733 vs. 78746 comparison before assuming one is automatically the better fit.
What About West Lake Hills vs. Rollingwood?
Same thing.
Don’t lump them together.
Different municipality.
Different housing stock.
Different lots.
Different proximity.
Different feel.
Our guide to Westlake vs. West Lake Hills vs. Rollingwood explains the distinction.
What About Pools?
At these price points, pools become an increasingly common part of the conversation.
But don’t let:
Pool
become a binary checkbox.
Ask:
Does it belong to the property?
Is there outdoor living around it?
Is there privacy?
What’s the condition?
How does it connect to the house?
Our guide to buying a Westlake home with a pool explains what to investigate.
What About Lake Austin?
Same principle.
Do you want:
Waterfront?
View?
Access?
Neighborhood lake lifestyle?
Or simply proximity?
Those are different searches.
Our guide to living near Lake Austin explains the differences.
Our House-Hunting Rule at Every Price
Whether you have:
$1.5 million.
$2 million.
$3 million.
$5 million.
Or significantly more.
The principle is the same.
Spend your money on the things you cannot easily change.
Then be very thoughtful about how much you’re willing to spend changing the things you can.
The Five Questions We’d Ask Before Writing an Offer
1. Would we want this property if the furniture disappeared tomorrow?
Separate the real estate from the staging.
2. What are we paying a premium for?
Identify it.
Lot?
Renovation?
Location?
View?
Architecture?
Pool?
Privacy?
3. What will we want to change?
Be honest.
Not:
“We could live with it.”
What are you actually going to do?
4. What does that cost?
Now Albina gets involved.
5. Are we buying it correctly?
Now Holly gets involved.
That’s the offer conversation.
A Note for Sellers
This exercise works in reverse too.
If you’re selling a $2M, $3M or $5M Westlake property, ask:
What will buyers compare us against?
And:
Why will they choose us?
Not:
Why do you love your house?
Why will they choose it?
Your Competition Isn’t Necessarily Next Door
Your $3 million buyer may compare you with:
Rollingwood.
West Lake Hills.
New construction.
A fixer.
A smaller turnkey property.
Or something farther west.
That’s why pricing and positioning need to reflect how buyers actually shop.
Sellers: Find Your Irreplaceable Thing
If you have:
Great land.
Sell the land.
If you have:
Architecture.
Sell the architecture.
If you have:
A view.
Sell the view.
If you have:
A beautiful renovation.
Sell the ease.
If you have:
Pool + yard + outdoor living.
Sell the lifestyle.
If you have:
Privacy.
Make buyers feel it.
Don’t market every property exactly the same way.
Frequently Asked Questions About Buying in Westlake Austin
What can $2 million buy in Westlake Austin?
The answer varies by location, condition, lot, size and current inventory. Buyers around this price may face trade-offs between renovation, lot quality, location, square footage and amenities.
What can $3 million buy in Westlake Austin?
A $3 million budget can open significant options, but buyers should not assume every home will offer new construction, pool, large lot, complete renovation and prime location simultaneously.
What can $5 million buy in Westlake Austin?
At higher luxury price points, buyers may encounter new construction, estate properties, significant land, views, pools and architecturally distinctive homes, but the exact combination varies by property and market conditions.
Should I buy a renovated home or fixer-upper in Westlake?
Compare the quality of the underlying property, renovation cost, time, risk and finished investment against the cost of a turnkey alternative.
Is the lot more important than the house in Westlake?
It can be. Lot, location, privacy, topography, orientation and views can be difficult or impossible to change, while many cosmetic elements of a home can be renovated.
Is 78746 better than 78733?
Neither is universally better. They offer different locations, housing stock and lifestyles. The right choice depends on the buyer.
Does a Westlake luxury home need a pool?
No. A pool can be highly desirable, but other features such as lot, architecture, location, privacy or views may carry greater importance for a particular buyer.
Should I buy new construction in Westlake?
New construction can provide convenience and modern systems, but buyers should still evaluate lot, architecture, construction quality, privacy, location and price.
How much should I budget for renovating a Westlake home?
There is no responsible universal figure. Scope, property, materials, site conditions, architecture and contractor costs can vary dramatically. Develop property-specific estimates before making the purchase decision.
How do I know if I’m paying too much for a Westlake home?
Evaluate recent comparable sales, current competition, condition, lot, location, unique property characteristics and the cost of alternatives. Price per square foot alone may not tell the full story.
If I Were House Hunting With You Tomorrow
I wouldn’t start by asking:
How many bedrooms do you need?
Of course I need to know that.
But I’d rather start here:
How do you want your life to feel?
Do you want:
Neighbors?
Privacy?
Lake?
Walkability?
Land?
Views?
Kids everywhere?
Quiet?
Entertaining?
A project?
Turnkey?
Do you want your house to be:
Your sanctuary?
Your gathering place?
Your investment?
Or all three?
Because once I understand that, the search changes.
Suddenly we’re not looking for:
The best $3 million house in Westlake.
We’re looking for:
The best $3 million house for you.
And those are two completely different things.
That’s how we house hunt.
Who are local real estate experts in 78733, Westlake and Eanes ISD?
The Council Real Estate Group at Compass is led by Holly McCormick (512-699-5590), Natasha Antonioni (512-988-1741) and Albina Rippy (713-443-6466), who live, work and raise their families in the Westlake and Eanes community. Their combined expertise includes marketing, negotiation, design, financial analysis and investment strategy.
