Horseshoe Bay Waterfront Condo & Townhome Statistics
| Average Price | $883K |
|---|---|
| Lowest Price | $259K |
| Highest Price | $2.3M |
| Horseshoe Bay Waterfront Condo & Townhome Listings | 46 |
| Avg. Price/SQFT | $537 |
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Who Buys a Horseshoe Bay Waterfront Condo
Five buyer profiles drive almost every transaction in this segment:
Second-home buyers from Austin, Houston, and Dallas. Want lake access without flying in to a maintenance project. The lock-and-leave format is the entire point.
Retirees downsizing into resort life. Selling a larger waterfront home or relocating from a major Texas metro. Want walkable amenities, predictable HOA dues, and minimal upkeep.
First-time Horseshoe Bay buyers. Testing the market before committing to a single-family waterfront home. A condo is a lower-friction entry point and an easy resale if priorities shift.
Investor-owners. In rental-permitted buildings, condos at the resort generate meaningful nightly rates. Peak-season ADRs run $300 to $1,200+ depending on size and view.
Resort club members. Already have golf and amenity access at Horseshoe Bay Resort and want a walking-distance crash pad rather than a hotel stay.
Condo vs. Townhome in Horseshoe Bay
The terms get used interchangeably in casual conversation, but they're different ownership structures with different cost profiles:
Condominium. You own the interior of your unit plus an undivided interest in the common areas. The HOA owns the building's exterior, roof, and grounds. Insurance covers your interior; the master policy covers the structure. Most stacked-unit inventory in the resort core, including The Waters and Bay View Villas, falls here.
Townhome. You typically own your unit, the land it sits on, and the roof above it. The HOA maintains common areas but usually not your individual structure. You carry a full property insurance policy. Most side-by-side attached units fit this profile.
The practical difference at resale: condo owners vote on building decisions, townhome owners handle their own roof replacement on a shared wall. Pick based on how involved you want to be in collective maintenance choices.
Where the Inventory Lives
Most Horseshoe Bay waterfront condo and townhome inventory clusters in a handful of named buildings and communities:
The Waters at Horseshoe Bay Resort. The 50-unit condo tower at the resort marina, designed as resort-integrated lock-and-leave inventory with direct access to the hotel, restaurants, marina, and pools. Often the most active building on this page.
The Cape. Privately gated peninsula community with waterfront condo buildings, deeded boat slips with lifts, and walking access to the resort core.
Sheltered Harbor. Waterfront condo complex with covered parking, boat slips, and direct lake frontage. Walking distance to the marina and yacht club.
Villas Del Lago. Waterfront condo community on a quiet cove of Lake LBJ, generally a quieter setting than the resort-adjacent buildings.
Bay View Villas. Established condo community with Lake LBJ views, walking distance to the resort.
Smaller waterfront buildings throughout Bay Country and the resort core round out the inventory. Each has its own HOA, dues, and rental rules, so building selection matters as much as unit selection.
What Drives the Price
Two units of similar size in different buildings can list far apart. The variables that move the price, in rough order of impact:
Building location and walkability. Units inside the resort core, within easy walk of the marina, yacht club, and hotel, command a premium over more remote buildings.
Boat slip ownership. A deeded slip transfers with the sale and adds meaningful value. An assigned slip is rotatable by the HOA. Community-pool slips on a waitlist are worth less. Always confirm slip type.
View quality. Direct main-body lake views beat cove views beat partial views. Top-floor units typically command 10 to 20 percent more than ground-floor units in the same building.
HOA dues and what they cover. Lower dues aren't automatically better. A building with $400 monthly dues that excludes insurance and major reserves can cost more long-term than a $900 building that covers everything.
Resort or club membership. Some buildings tie membership to ownership. Some don't. Active resort club membership transfer can add real value.
Furnishings. Many Horseshoe Bay waterfront condos sell furnished, especially second-home and rental inventory. Furnishings can be worth $30K to $100K+ depending on quality and finish.
Short-term rental eligibility. A condo in a rental-permitted building is worth meaningfully more to investor buyers than a comparable unit in a restricted building.
What to Look at in the HOA Documents
The HOA documents matter more than the listing photos. Every offer should include enough option period to review them. What I check on every condo transaction:
Monthly dues and what they include. Water, sewer, trash, exterior maintenance, insurance master policy, pool and clubhouse, landscaping, reserve contributions. Not every HOA covers everything, so review the line items.
Reserve fund balance. An underfunded reserve means a special assessment is coming. Reserve study results tell you if a roof, elevator, dock, or boathouse is approaching end of life with no funded plan to replace it.
Recent and pending special assessments. If the HOA recently levied or is planning to levy a $20K+ assessment, you want to know before closing, not after.
Short-term rental rules. Some buildings permit nightly rentals, some require 30-day minimums, some prohibit rentals entirely. Verify in writing. Some buildings also cap the percentage of units that can be rentals at any time.
Pet rules. Weight limits, breed restrictions, or outright bans. A common surprise at closing.
Boat slip transfer rules. If the slip is deeded, confirm the deed. If it's assigned, confirm the assignment transfers and isn't subject to reassignment.
Pending litigation. An HOA in active litigation makes lenders nervous and complicates resale. Standard disclosure should surface it.
Meeting minutes from the last 12 months. Tells you what the community actually argues about. Roof leaks that haven't been fixed, contractor disputes, neighbor complaints, and rule changes all show up here.
Boat Slips: Three Categories That Matter
A "waterfront condo with a boat slip" can mean three very different things on Lake LBJ:
Deeded slip. You own the slip outright. It transfers with the unit. Highest value at resale and the most freedom over how you use it.
Assigned slip. The HOA assigns a specific slip to your unit. Some HOAs rotate or reassign annually. Confirm the assignment terms in writing.
First-come community slip or waitlist. You have access to slips but don't control which one or when. Lowest value of the three and sometimes results in zero slip access in peak season.
When a listing says "waterfront with slip," always confirm which of the three applies. The pricing difference between a deeded slip and a waitlist slip can be $30K to $75K+ on otherwise identical units.
Short-Term Rental Income in Horseshoe Bay Condos
In rental-permitted buildings, Horseshoe Bay waterfront condos can generate significant rental income:
1-bedroom Waters condos. Peak-season ADRs $200 to $400 per night, monthly gross $1,500 to $4,000 in high season.
2 to 3-bedroom waterfront condos. Peak-season ADRs $400 to $800, monthly gross $4,000 to $9,000 in high season.
3 to 4-bedroom waterfront townhomes with deeded slips. Peak-season ADRs $700 to $1,500+, monthly gross $7,000 to $14,000 in high season.
Peak season in Horseshoe Bay runs roughly May through October with secondary demand around holidays and spring break. Gross rental income does not equal net. Subtract HOA dues, property management (typically 20 to 30 percent), cleaning, maintenance, and taxes to arrive at a real number.
Before underwriting based on rental income, verify three things: the HOA permits rentals at your intended frequency, the City of Horseshoe Bay permits operate cleanly, and the rental cap (if any) is not already hit.
About Chad Thibodeaux
I'm a 40-year resident of Horseshoe Bay and a licensed real estate broker since 1991. A meaningful share of my annual business is condo and townhome transactions, often for out-of-area buyers who want expert eyes on the HOA documents and building dynamics before they commit a weekend to come see the unit themselves.
If you're buying from Austin, Houston, or Dallas, I can walk the building, pull the HOA documents, and give you an honest read before you invest the drive. Call 512-755-1606 or send a message.
Frequently Asked Questions
What buildings have waterfront condos and townhomes in Horseshoe Bay?
The most active buildings are The Waters at Horseshoe Bay Resort, The Cape, Sheltered Harbor, Villas Del Lago, and Bay View Villas, along with smaller waterfront buildings throughout the resort core and Bay Country. Each building has its own HOA, dues structure, and rental rules.
What's the difference between a Horseshoe Bay condo and a townhome?
In a condo, you own the interior of your unit plus an interest in the common areas. The HOA owns the exterior, roof, and grounds. In a townhome, you typically own your unit and the land under it, including the roof. HOA coverage, insurance obligations, and maintenance responsibilities differ accordingly.
Do Horseshoe Bay waterfront condos come with boat slips?
Some do, some don't, and the slip type matters. A deeded slip transfers with the sale. An assigned slip is allocated by the HOA. Community slips work on a waitlist. Always confirm which type applies before writing an offer. Pricing differences between deeded and waitlist slips can be substantial.
Can I rent a Horseshoe Bay waterfront condo on Airbnb or VRBO?
It depends on the specific building's HOA rules. Some permit nightly rentals, some require 30-day minimums, and some prohibit rentals entirely. Some buildings also cap the percentage of units that can be rentals at any time. Verify the rules in writing before buying with rental income in mind.
What are typical HOA dues for Horseshoe Bay waterfront condos?
HOA dues vary widely depending on the building and what's included. Smaller buildings with limited amenities run $150 to $400 per month. Mid-tier waterfront buildings typically run $400 to $750. Premium resort-core buildings with full-service amenities, master insurance, and reserve contributions can run $750 to $1,500+ per month.
Does a Horseshoe Bay condo come with Horseshoe Bay Resort Club membership?
Not automatically. Some buildings have membership relationships with the resort, but most condo purchases require a separate club application and initiation. Always confirm membership status and transfer terms in writing before closing.
Do I need flood insurance on a Horseshoe Bay waterfront condo?
The HOA master policy typically covers the building's structure, but the master policy may exclude flood. If your unit is in a FEMA flood zone, your lender may require a separate flood policy for your interior. Confirm what the master policy covers and what you need to supplement.
Are Horseshoe Bay waterfront condos a good investment?
In rental-permitted buildings near the resort core, waterfront condos can generate meaningful short-term rental income. Peak-season ADRs run $200 to $1,500+ depending on size, view, and slip type. Net returns depend on HOA dues, management fees, and occupancy. Verify rental rules and current market performance before underwriting an investment thesis.
Are Horseshoe Bay waterfront condos furnished?
Many are, especially second-home and rental inventory in the resort core. Furnishings are typically included in the sale price unless the listing states otherwise. Furnishings on a turnkey waterfront condo can be worth $30K to $100K+ depending on quality.
What property taxes apply to Horseshoe Bay condos?
Tax rates depend on whether the unit is in the Llano County or Burnet County portion of Horseshoe Bay. Budget approximately 1.8 to 2.3 percent of assessed value annually, with the exact rate varying by jurisdiction.