If you choose Bastrop, plan on going the long way, through Elgin, into Austin. Most of the High Tech companies are on the north side of Austin, and you don't want to be driving through Austin. Traffic is really, really bad through central Austin, mainly because the city is strung out north to south, and there are really only two north-south freeways, I-35 and MoPac (TX 1). Although the area is nice, I wouldn't want to commute from Buda. That said you might consider the area to either the northeast or even better, the northwest. Marble Falls, while a bit far to commute (people do though, both ways) is great. Generally the hill country to the west is considered more desirable than the plain to the east, but that's a personal preference thing.
Both my daughters live in the north Austin area. I'm a bit farther north in Killeen, where I'm in process of moving to from San Antonio due to a work transfer. I'm gonna miss San Antonio. :(.