Spicewood's Hidden Gems: The Definitive Guide to Land for Sale

Spicewood is a quaint, unincorporated community in Texas. Located approximately 35 miles from downtown Austin, it's a haven for those wishing to escape the big city. People who enjoy nature and recreational activities will find it perfect since it's near the Colorado River and Krause Springs.

Spicewood's history dates to 1899, when James B. Pangle opened the first post office. Today, it's most famous for being the home of Willie Nelson, who lives at Luck Ranch in Spicewood. If you want to live in the Texas Hill Country, Spicewood is a fantastic place to have your forever home, but you may have to search to find your hidden gem. That's why the Jamie Novak Group has created the ultimate guide to land for sale in Spicewood. We want to see your home ownership dreams come true by finding the perfect spot for your luxury home.

Spicewood is a part of Travis County. In 2022, the estimated population of Travis County was 1,326,436, an increase of 2.8% since the 2020 census. According to the United States Zip Codes, the population estimate for Spicewood is approximately 8,731. The total population count needs clarification, as other sources assess the population to be closer to 11,000.

Growth in nearby towns suggests Spicewood will also experience an increase, and Travis County has seen a growth rate of 33.75% since 2010.

Today, Spicewood is a place of luxury and relaxation. It's where people play outdoors, escaping the bright city lights and opting instead for bright stars. According to Best Neighborhood, if you want to buy a home in Spicewood, you can expect a median home price of about $513,143. Luxury property values can increase to $774,400, with vacant lots being more affordable. It depends on the type of property you're interested in and how much you want to invest.

In Spicewood, you'll discover many older-style homes. The average age of houses in this area is approximately 17 years. Most residents own their homes, although there are some rental properties in the area.

The property market in Spicewood is currently going through a buyer's market phase, meaning there are more homes for sale than there are buyers. This trend could change quickly as more people discover all it offers.

You must understand current mortgage rates if you're considering a home in Spicewood and need to take out a mortgage. According to NerdWallet, the current mortgage rate in Texas is 7.225% for a 30-year fixed mortgage. This depends on the type of mortgage you're qualified to receive.

The best mortgage rates will come with a 10- to 15-year fixed mortgage. Their average, respectively, is 6.096% to 6.178%. Qualifying for a Federal Housing Administration (FHA) or Veteran Affairs (VA) loan can help you make your dream home more accessible. These rates are 30-year fixed FHA mortgages at 6.257% and 30-year fixed-rate VA loans at 6.317%.

As we approach the end of the year, these interest rates may continue to drop, but with the uncertainty of our Federal Reserve, no one will know until it happens.

For many who wish to escape high interest rates or housing costs, vacant property seems the way to go. If you love Spicewood, there are plenty of excellent lots to choose from. The key is knowing what you want before you look. Some things to consider include:

How much property do you need or want for your home? A larger property will provide the option for a more luxurious home with plenty of outdoor space. A modest property size will limit the area you have to work with.

When you decide that you want to live in Spicewood, we suggest narrowing it down a little more. Consider the natural features of the land around Spicewood to choose what outlook you want to see from your home's windows each day. If you're seeking a water view, your property selection should be close to the river flowing through Spicewood.

A vacant property will cost substantially less than buying a home, but there are still costs involved. Do you have enough money to buy the property and build your house on it? Other fees to consider may include:

There are going to be a variety of costs to get things rolling. Not all will impact you immediately, but they will eventually as you move forward with the land improvements.

Spicewood is a remote area. There should be roads and road access points to most properties. It's not good to discover that your dream space has limited access after you buy the property. Knowing what you can do with your land before purchasing it is best.

Not all land is suitable for home building. Remember this as you search for a property and inspect the site to ensure you love it before buying. It's also helpful to examine all information about the land to ensure it's not in a flood-prone area. Although flooding in Spicewood is unlikely, checking your investment property for other issues is important.

There are permit requirements to build a home in Travis County. You'll need to take care of these before the construction teams break ground on your new home site.

The MyPermitNow application process requires uploading site plans, engineering reports, and other data.

There are several things to consider when buying a property, whether it's a vacant lot you hope to improve or a home you want to purchase. The good news is, if you look closely enough, you'll find a hidden gem that makes all the work worthwhile. Having a realtor to help you navigate the various aspects of property investing will assist you.

Spicewood is such a magical place to be. We love its history and peaceful vibe. If you love it as much as we do and want to find a glorious piece of land for sale in Spicewood, we can help. Contact the Jamie Novak Group and tell us about your dream space requirements. We'll start looking for an oasis to suit your investment needs.