House with $50m asking price could become the most expensive property in Texas

A house on Lake Austin, with an asking price of $50m, could become the most expensive home in the state of Texas.

The lakefront compound, which is being listed by Kuper Sotheby’s International Realty, comes with an interior living space of more than 10,505 square feet. Within the main house and three guest homes, the property has nine bedrooms and 11 bathrooms.

Speaking to the Wall Street Journal, listing agent Bridget Ramey said that if the home sells for $50m, it would set the record as the most expensive home in Texas. According to Ramey, high-end homes in Austin are typically put on the market for $30m.

The home’s owner, Brett Ames, also told the publication that he and his wife acquired the land in 2014 for their family to live on. While he didn’t specify how much he paid for the property, he did note that the construction done on it cost about $1,250 a square foot.

According to the listing, the home, which is known as “The Legacy of Lake Austin”, was “personally curated” by Ames, who is President/CEO of Ames Design Build.

Outside of the main house and three guest homes, the property is completed with “a zero edge infinity pool on the veranda, a separate pool scape and cabana below, and a boat house perched upon 212-feet of enviable lakefront”.

Along with a gated entrance, the property includes a circular driveway and a separate Concierge House. There’s also an arrival garden pathway that leads to the doors of the home.

Along with the bedrooms, the interior of the move-in ready home includes a dining room and living room that leads to the outdoors. On the outside of the space, there’s a fireplace, grill, and other cooking appliances located next to the pool.

Ames told the Wall Street Journal that the estate is too large for him and his wife. He also said that his four children grew up in the home. “We probably way underuse it,” he explained.

Ramey also spoke to Axios about the property’s appeal and how it could be of interest to “uber-luxury” buyers.

“They might be coming from California to take advantage of our no state income tax and they want to be on the lake because they’re coming from the ocean,” she said. “Most of the properties on the lake don’t come with land. If you’re someone looking for uber-luxury, you need staff quarters, you need a security shack, you need guest components.”

Despite the hefty asking price for this house, the average home prices in Austin have fallen by 12.7 per cent throughout the last year, according to Redfin. In April 2023, homes Austin were selling for a median price of $567,000, after an average of 47 days on the market.