Sand point or new well?

sand points (I assume you are going to "wash" it in) can give you severeal more tens of feet of available drawdown in a well. Trouble with them is that, unless you are in a very sandy formation, the normal diameter (about 1.5" to about 3" diameter) will not produce the amounts of water necessary to run a household. It may get you through some tight spots. I would consider a new well at a good depth and of a sufficient diameter to meet your needs.
Whats the aquifer that you overlie .

Also, I don't know how Texas Water Dept is but in most other states you need a licensed driller and a permit so you don't dewater a neighbors well supply. (I think in Texas you operate under a water rights allocation basis)

Were you going to drive the sand point yourself or get a contractor?