On the Market

Austin philanthropist's quirky home hits the market for $5 million

Austin businessman Milton Verret is selling his waterfront mansion for $5 million.Photo courtesy of DMTX Realty
A custom-painted Steinway piano pops in the living room.Photo courtesy of DMTX Realty
Verret's affinity for music is found throughout the home.Photo courtesy of DMTX Realty
The kitchen contains stainless-steel appliances, caesarstone worktops and floors, and a built-in bar.Photo courtesy of DMTX Realty
Floor-to-ceiling windows expose expansive views of Lake Travis.Photo courtesy of DMTX Realty
Designed by Winn Wittman, unique and funky features are highlighted within the home.Photo courtesy of DMTX Realty
The three-story property is 8,800 square feet.Photo courtesy of DMTX Realty
The master suite's bright green bathroom boasts a steam shower and jetted tub.Photo courtesy of DMTX Realty
One of the home's five bedrooms.Photo courtesy of DMTX Realty
The abode has plenty of space for entertaining, relaxing, and working out.Photo courtesy of DMTX Realty
One of the home's five living areas.Photo courtesy of DMTX Realty
Enjoy movie night in the state-of-the-art theater.Photo courtesy of DMTX Realty
Take a dip in the backyard's infinity-edge pool and dual hot tubs.Photo courtesy of DMTX Realty
Balconies, patios, and decks provide an outdoor paradise.Photo courtesy of DMTX Realty
The home sits 200 feet above Lake Travis.Photo courtesy of DMTX Realty

Sitting 230 feet above Lake Travis is the statuesque Acqua Villa estate, owned by Austin entrepreneur and philanthropist Milton Verret. The 8,800-square-foot waterfront home is for sale, appealing to those with an affinity for contemporary design — and a large enough pocketbook.

The three-story mansion, accessible by stair or elevator, features five bedrooms and eight bathrooms with additional guesthouse accommodations. Panoramic views are highlighted throughout the home via stunning floor-to-ceiling windows.

Designed by award-winning architect Winn Wittman, the luxurious property utilizes green technology for energy efficiency. A gourmet kitchen with caesarstone worktops and floors, stainless steel appliances, and bar opens up to one of five living areas, which boasts towering ceilings and Zeppelin chandeliers. One wall is filled with electric guitars with a custom-painted Steinway piano below. Among the other living areas are a workout facility and home theater. The spacious master suite contains a walk-in closet, walk-in steam shower, large jetted tub, and balcony overlooking the lake.

For the ultimate party host, you’ll find an expansive sun deck and infinity-edge pool with dual hot tubs out back. The area also has a pool house, kitchenette, and cryotherapy spa. The lawn is fenced off by glass to allow maximum views of the water. Located along the deepest point of Lake Travis, the property comes complete with an adjustable boat dock, two jet ski ramps, and a second deck to access the lake.

14515 Ridgetop Terrace is on the market for $5 million with DMTX Realty.

luxury home-for-sale music

It takes Texans eight workdays each month to unlock homeownership. Photo by Jakub Żerdzicki on Unsplash

For homebuyers, a mortgage payment is likely their biggest monthly expense. Fortunately, Texas sits below the national average for the number of workdays required per month to afford a monthly mortgage payment, according to a new analysis from Realtor.com.

In Texas, it takes eight workdays to come up with enough money for a typical mortgage payment, the analysis shows. The national average is 10 days.

Realtor.com’s estimate for Texas is based on the median list price for a home in February ($355,000) and assumes a 6.65 percent interest rate on a 30-year, fixed-rate mortgage with a 20 percent down payment. The analysis factors in property taxes and insurance premiums using a 1.7 percent annual rate. January wage data from the U.S. Bureau of Labor Statistics rounded out Realtor.com’s calculation of the eight-workday figure for Texas.

“The number of workdays required to afford a home today stems from a couple factors. First, home prices have risen faster than incomes, widening the gap between earnings and housing costs. Second, elevated mortgage rates have increased borrowing costs, further stretching monthly budgets,” says Charlie Lankston, executive editor of Austin-based Realtor.com. “As a result, prospective buyers must allocate more of their income, and consequently, more workdays each month, to afford mortgage payments.”

Mortgage payments are a concern for many homeowners. In a 2024 survey commissioned by personal finance website Bankrate, 13 percent of homeowners complained that their mortgage payment was too high. Nonetheless, 74 percent of first-time homebuyers indicated in a recent TD Bank survey that they were optimistic about today’s housing market.

Despite the optimism about the market overall, 64 percent of buyers surveyed by TD Bank were worried about their ability to afford a home due to current interest rates.

In the Realtor.com analysis, Texas fares much better than many other states. What follows are the four states where it takes the most workdays to afford a monthly mortgage payment:

Hawaii — 17 days
California — 15 days
Massachusetts — 15 days
Montana — 15 days

At the other end of the spectrum are Kansas, Missouri, Indiana, Illinois, West Virginia and Michigan — all at the seven-workday mark.

homeowners mortgage income study

On the Market

Austin philanthropist's quirky home hits the market for $5 million

On the Market

Austin philanthropist's quirky home hits the market for $5 million

Home At Last

Here's how many days Texans work each month to afford their mortgage

Home At Last

Here's how many days Texans work each month to afford their mortgage