39 Roads

In July 2006 Tennessee launched “Retire Tennessee”, its program to promote ten communities in the state as retirement destinations.  The Tennessee Department of Economic and Community Development Commissioner Matthew Kisber said, “Tennessee has become increasingly attractive to today’s migrating retirees. We fully recognize this as a viable industry and we are now working to implement programs that would establish retirement migration as an economic development strategy.” 

Tennessee has chosen to focus on this form of economic development for a number of reasons: retiree recruitment is an established approach and will be growing with the number of baby boomers reaching retirement age.  Tennessee is ranked 11th as a tourism destination in the country, better positioning themselves for those who may be looking to relocate.  Retirees generally bring increased wealth to their area, creating new jobs and businesses, while tax revenues from this new base of residents exceeds the cost of providing governmental services for them.  For more information please visit http://info.tnanytime.org/tngov/?p=68.

A big player in East Tennessee is Rarity Communities which currently has seven or eight communities, most of which are located on or near lakes, rivers, or mountains.  The company seeks to integrate its developments with their natural surroundings through solid land stewardship.  Rarity Bay has been chosen as one of “America’s Top 100 Golf Communities” by Travel + Leisure Golf Magazine; it was the only community in Tennessee to receive this distinction.  Rarity Bay is located on Lake Tellico about 30 minutes west of Knoxville and also offers water sports, an equestrian center, and views of the Great Smoky Mountains.  The company also has plans for rapid expansion and will be introducing several new communities within the year.

North American Land also has a significant presence in the state, most notably with Rocky River Vista two hours east of Nashville.  The community sits on a bluff overlooking the Rocky River and is located near Center Hill Lake and a scenic state park.  The company also offers Eagles Ridge in Northwest Tennessee on the Kentucky border.  Eagles Ridge is located on 45,000 acre Lake Barkley and features spectacular views.

Many more choices are available and will be available in the state, and Tennessee will become a much talked about destination in the years to come. 

Well, readers, my recent travels took me to the beautiful mountains of western North Carolina where I was able to go through a number of developments.
 
Carriage Park is a community in Hendersonville, N.C.  It is as their literature says, a “community of quiet neighborhoods, beautiful hiking trails and spectacular panoramic views, that span sixty miles… just five minutes from all the conveniences and charm of downtown Hendersonville. And only 20 minutes from Asheville.”  The views were truly stunning, and the convenience of this development is difficult to match.  They are also planning for a mountaintop clubhouse which will also capitalize on the amazing scenery of the region.
 
I was also able to visit three of Vista’s communities in the Hendersonville and Lake Lure area.  They have a number of options for various mountain-living budgets including townhomes, lot and home packages, and lots for custom-built homes.  Blacksmith Mountain and Blacksmith Run have the easy access to Hendersonville.  Blacksmith Run will be particularly retiree-friendly with flatter terrain and craftsman-style homes on 1/4 to 1/3 acres.  Bill’s Mountain is closer to Lake Lure and has the higher elevation and incredible views.
 
Grey Rock of the 2006 HGTV Dream Home fame is also located near Lake Lure.  In fact Land Resource is the only developer to have twice been selected for this honor.  Grey Rock has approximately 900 homesites and covers nearly 4000 acres, much of which will be left in its natural state.  Its sister property, Wild Ridges, launched in the spring and provides another option for the region.
 
The last stop on the tour through the area was The Settings of Black Mountain.  Black Mountain is small town with quaint shops and more than its share of good restaurants.  For example, Veranda Cafe was packed for lunch on a Thursday, and I was told that this is typical.  Black Mountain is 15 minutes by interstate to Asheville and the resources of a larger city.  Much of this area east of Asheville will remain undeveloped as there are several retreat and conference centers who own large tracts of land.  The Settings has done a noteworthy job of creating a development around what feels almost like a national park with small touches that add to the community.
 
So, if the North Carolina mountains appeal to you, there is certainly a community to match your interests, lifestyle, and budget.
 
On a different note, I receive several magazine subscriptions, most of which seemingly have little to nothing to do with retirement or relocation.  I was intrigued recently to find two publications whose issues had some relevance.  One of these is the November edition of Business 2.0 which had an article, “The Best Places to (Still) Invest”, focused on real estate.  Ten locales were highlighted, including five in the Southeast.  Suprisingly, with its seemingly escalated real estate prices, three of these are in Florida: Panama City, Vero Beach, and Lakeland.  My hometown of Wilmington, N.C., which is quickly becoming a popular choice for those who are retiring or may otherwise be relocating for a better quality of life, was also cited.  A recent edition of Tennis magazine featured an article on the best places to retire- for a life filled with tennis, of course.  The southern region garnered three of the six communities highlighted with Charlottesville, Va.; Charleston, S.C.; and Hilton Head Island, S.C. receiving the distinction.

On Travels and Resources
“If people concentrated on the really important things in life, there’d be a shortage of fishing poles.” Doug Larson

I was recently in Southeastern North Carolina. I visited several communities who are attracting retirees. Carolina Colours, while in its infant state, looks to be a special place near historic New Bern. The first-class developers are working to incorporate the natural landscape with Brice Creek and preserved wetlands. Their golf course is being built with this same consideration. Additionally, they want to make it an active community with a town centre, a pavilion, and open grounds. Call me before you visit the area. I have a few lodging dining recommendations in the area, including Marina Sweets where I had a shrimp omelet with a huge sweet potato biscuit and grits for breakfast and BearTown French Bakery & Bistro where they serve unique sandwiches and delicious soups, including a chilled soup du jour.

I also visited Brunswick County, NC which is becoming one of the fastest growing counties in the country. Sound familiar? From what I was told, they went from not being in the Top 100 to number 29 in one year and are still climbing. It seems that people are drawn by the small beach towns with easy access to the activities of Myrtle Beach and the historic city of Wilmington. Coastal Communities is a top-notch developer with five distinct communities for boating, golfing, beach going, etc. One prospective purchaser reportedly said that the area reminded them of Hilton Head in 1983. I think we all know how that turned out. Good restaurants are plentiful; two of my favorites are in downtown Wilmington: Caffe Phoenix on Front Street and Elijah’s on the riverfront.

In my work I review quite a number of web sites, publications, books, and promotional materials on retirement, relocation, and communities. As to be expected, many I like, a few I don’t, and some I could take or leave. Recently I discovered AARP Magazine Online’s Location Scout only to be greatly disappointed by it. I found some of the questions and multiple choice answers to be oddly worded. Furthermore, after answering I don’t know how many questions about my preferences, I was basically told that there are no matches for me for a place to retire and to go back through the survey and change some of my answers. In other words, there is no suitable place for my retirement- including where I live currently, Loudoun County, VA! I would have expected at least a few suggestions. If you’re from AARP and you’re reading this, contact me. I can help you improve this feature. Okay, enough griping…

On the positive side, I discovered a magazine called Living Southern Style. This publication is well-laid out and uncluttered; it has relevant, informative articles and useful, easily accessible information.

“Don’t simply retire from something; have something to retire to.” Harry Emerson Fosdick
This quote could easily be rewritten to say “have somewhere to retire to”. For many the answer is simply to stay put. The familiar neighborhoods, restaurants, activities, friendships, etc. far outweigh the allure of other possible locations. As Stan Hinden wrote in How to Retire Happy, “We realized that if we moved, we’d have to adjust not only to a new climate, but to a new home, new geography, new cities and towns, new highways, new newspapers and TV stations, new libraries, new businesses, and new customs.” The prospect of moving can be a daunting task in any phase of life but how much more so when you’ve been in the same area for 10-20 years or more.

Your home may be comfortable and continue to fit the new lifestyle found in retirement. A reverse annuity mortgage may allow the financial freedom for you to be able to stay in your present home while providing you with a monthly income. You may wish to consider universal design to make your home more accessible. See www.design.ncsu.edu:8120/cud/ for more information on this concept.

You may want to look into downsizing or finding a retirement community near your current residence. One obvious advantage is keeping the familiar of the area while getting a fresh start. You may be able to reduce housing expenses or eliminate a mortgage altogether if you have enough equity in your current home.

For you the idea of changing locales may hold tremendous appeal, but you may not be ready to jump right in. What are your options? First, you may want to visit more than one community which holds potential for you and your spouse. Visiting at different times of the year will tell you if the college town is active during the academic year but too quiet in the summer or if the beach you enjoyed for vacations in the summers is empty in the winter. Staying for longer periods of time will also give you a feel for life on a daily basis.

A next step may be renting a place for an entire season. Now you’re taking part in the daily life of social clubs, outings, etc. without having made a substantial financial commitment or a decision that later may be hard to reverse. You now begin to get a better sense for whether this is a place that you would like to live long-term.

Another option that you may want to consider is owning two homes. The upside is being able to live where you want when you want and changing locations as the desire or need arises. You can be right back in the old neighborhood or at your retirement destination for days, weeks, or months at a time. Of course, with two homes you have more management issues. You may want to consider renting one while you’re at the other to help defray costs, but this comes with its own set of headaches and reduces flexibility.

There are so many exciting choices–and there’s no right one for everyone. Yes, there are questions to be answered, but, oh, what an amazing journey!