Austin is a nice town with lots of good recreation and good food to eat.
The university there (UT) is well known for having a very politically liberal view, and Austin has come to share that reputation. Fortunately, the majority of Austin, outside the university are good ol' conservative Texans.
Austin is a 'hot spot' for tech job growth, so most suburban land is selling at a premium. North of Austin (Round Rock area) is some high-dollar residential and comercial real estate. "Everybody" wants to live in that area. If you need to move there, you will pay a pretty penny for land. If you get up further up north to Georgetown, you will get out of the Austin "urban sprawl" situation.
East and West of Austin will probably be your best bet. The West side of Austin is in the Hill Country, which is one of the prettiest parts of the state. A few towns to look at: Buda (as noted above), Dripping Springs, and Marble Falls (very pretty scenery, but a longer drive).