Austin Market Guide

What should I check before buying a waterfront home on Lake Travis?

Check how the property works when the lake is low, not just when it is full. On Lake Travis that means the water depth at the dock in a drought year, the dock's LCRA permit, the home's flood elevation, the septic system, and the slope down to the water. Those five decide whether a lake home is usable year-round.

12 months ending September 2026

681 ft Full conservation pool
$649K Median sale, 78734
$875K Median sale, 78738
$3.75M Median sale, Spanish Oaks

1. Water in a low-lake year

Ask for photos of the shoreline from the last drought. Main-basin lots with deep water hold their value and use; shallow coves can go dry. Main-basin frontage near the dam and in deep stretches is the most reliable.

2. The dock and its permit

Lake Travis docks are permitted by the LCRA. Confirm the dock is permitted, whether it floats (so it can follow the water down), its condition, and whether you can extend or replace it.

3. Flood elevation

Lake Travis can rise well above full pool in a major flood. Review the elevation certificate and FEMA flood map, and get a flood insurance quote during your option period.

4. Septic and water

Many lake homes outside city limits run on septic, often aerobic systems with maintenance contracts, and some on private water systems or wells. Get the septic permit and maintenance history and inspect it.

5. Slope and access

Hill Country lakefront can be steep. Check how you get to the water (stairs, tram, or a gentle path), and what that means for guests and for daily use.

6. Setbacks and impervious cover

Shoreline setbacks and impervious-cover limits restrict pools, additions and outdoor kitchens. Verify before you plan improvements.

7. Commute and services

Lakeway, Bee Cave and Spanish Oaks put you near shopping and the Hill Country Galleria; farther points like Spicewood and Lago Vista trade services for space and quiet.

8. The price relative to the water

Frontage, depth and view drive value more than square footage. In the 12 months ending September 2026, the Lakeway and Bee Cave ZIP 78738 had a $875,000 median across 694 sales, 78734 had $649,250, and gated Spanish Oaks had $3.75 million across 15 sales. See Lake Austin vs. Lake Travis.

Source: MJ McFarland's analysis of Unlock MLS (ACTRIS) closed sales of single-family homes, condos and townhomes, October 2025 through September 2026. Leases excluded. Figures are medians unless noted.

Frequently Asked Questions

What is considered full on Lake Travis?

Lake Travis is considered full at its conservation pool of 681 feet above mean sea level. Above that, the LCRA treats the extra water as flood storage and releases it through Mansfield Dam. The level can fall well below 681 feet in drought, which is why buyers look at how a property performed in the last low-water period.

Are Lake Travis homes a good investment?

Deep-water, main-basin homes with permitted docks have historically held demand best, because they are usable in both wet and dry years. Shallow-cove homes can lose use and buyer interest during droughts. Look at the specific shoreline, not just the lake, and buy with a long horizon, since lake levels move in multi-year cycles.

How much does a waterfront home on Lake Travis cost?

It ranges widely with frontage, depth and location. Across the Lake Travis ZIPs, the overall median sale price in the 12 months ending September 2026 was $649,250 in 78734 and $875,000 in 78738, but those include off-water homes. Deep-water frontage with a permitted dock typically sells well above those medians, and the top Lake Travis area sales exceeded $6 million.

Do Lake Travis homes have septic systems?

Many do. Outside city sewer service, most Lake Travis homes rely on on-site septic systems, often aerobic units that require a maintenance contract, and some use private water systems. Ask for the permit, maintenance records and a septic inspection during your option period.

Can I build a new dock on Lake Travis?

Usually, with an LCRA permit and subject to shoreline rules, water depth and any HOA or city requirements. Floating docks that adjust with the water level are the standard on Lake Travis. Before you buy, confirm whether the lot can support the dock you want.

Is Spanish Oaks on Lake Travis?

Spanish Oaks is a gated golf community in Bee Cave near the Lake Travis area, not a waterfront community. In the 12 months ending September 2026, 15 homes sold there at a median $3.75 million, 12 of them above $3 million. Buyers who want golf and gates near the lake often compare it with waterfront homes nearby.

Work With MJ

(512) 717-1567 [email protected]

MJ McFarland, Principal | Broker Associate
Christie's International Real Estate · 1105 N Lamar Ste 100, Austin, TX 78703
TX License 07001832 (TX)