39 Roads

I’ve been asked recently a few times about college towns.  Auditing courses or earning a degree, cultural arts, sporting events, and other campus activities are a big draw- especially it seems for those who currently have positions in school systems or libraries or for those who grew up in a similar environment.  Before making a decision along these lines you may want to make an inquiry into how senior-friendly the students are as well as how inviting or inclusive the institution’s policies are.  One thing to be aware of is that part-time jobs may not be as readily available in a college town as many of these are snagged up by undergraduate students.

Some colleges have created special programs or classes for seniors while others include them in undergraduate classes.  You may want to ask about costs of taking or auditing classes or about discounts for seniors.  Because developers have used nearby colleges as amenities for their communities, many campuses have seen an increase in senior students and have had to limit the numbers who can audit a given course.  Colleges benefit from this relationship both directly from increased revenue and donations to indirectly with positive public relations with alumni or community members as they become ambassadors for the college, particularly in promoting the school’s offerings to grandchildren. 

An article on Back Roads, Charming Towns (http://www.backroadscharmingtowns.com/admin/trackback/13509) talks about alumni buying into condominium and townhouse communities near their alma mater as a weekend retreat for sporting events or other activities.  Many of these individuals use them as rental units as the number of students needing off-campus housing remains relatively steady.  Many of these graduates may make it back as full-time residents to enjoy the college town lifestyle year-round.  

In America’s 100 Best Places to Retire, 9 of the 10 “Best College Towns” are in the Southeast, with Virginia (Charlottesville and Williamsburg), North Carolina (Asheville and Chapel Hill) and Florida (Gainesville and Tallahassee) leading the way.  In fact the University of North Carolina at Asheville has the distinction of being the home of the North Carolina Center for Creative Retirement (http://www.unca.edu/ncccr/) which “has the threefold purpose of promoting lifelong learning, leadership, and community service opportunities for retirement-aged individuals” and offers a number of programs for retirees.  At Clemson University in Clemson, SC, seniors can audit classes at no charge. 

One of my favorites is Charlottesville, Va. which is consistently rated as one of the best places to live on the planet.  The University of Virginia, founded by Thomas Jefferson in 1819, is easily one of the top five public universities in the country.  Again, those over 60 who have resided in the state for a year or more can audit courses for free when space is available.  The city boasts a downtown walking mall, good climate, a lower cost of living than many areas, and an abundance of historical areas nearby.  One of my favorite restaurants anywhere is The Shebeen (http://www.shebeenpub.com/) which offers delicious South African fare.  I highly recommend it if you’re visiting the area.

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.

“When you retire, think and act as if you were still working; when you’re still working, think and act a bit as if you were already retired.”  Author Unknown
 
  Independent of where you want to live in retirement, there are a few questions to ask yourself about the type of community you want to live in.  These questions tend to divide people into different camps and will determine to a certain extent your neighbors and their outlooks.
 
  First, do we want to live in a retirement community?  For some being in a neighborhood with the 55 plus crowd means having people in the same stage of life and with similar life experiences close by.  These potential friends may share interests and be involved in the activities that appeal to you.  Others are invigorated by being around various age groups.  They want to see children on the playground and at the pool or talk with their neighbor about their job.  Some active adult communities do a commendable job of integrating with the larger community with nearby shopping, restaurants, and recreation facilities.
 
  Another question that seems to separate those seeking a place to retire is whether to live in a private-gated community.  You may want the added security of this feature or the exclusivity that this destination in life signifies.  In some developments this may not be necessary or desirable.  You may feel that this is not a value you want to convey or that is consistent with your lifestyle. 
 
  Here’s an issue that cannot be easily overlooked.  Some developments sell land and home packages with a limited time- perhaps one or two years- in which to build.  Other communities sell land with no such time frame.  Is the flexibility important to you?  What are other owners actually doing?  The developer may be able to give you a sense for the majority of the purchasers’ stated time lines and plans.  Does this fit with what your objectives are?  Does the neighborhood seem to be sparsely populated?  I have seen communities that have existed for years where many seem to have had the “buy and hold” mentality.  I wonder how much longer it will take them to become vibrant, engaging places to live.  Others seem to have sprung up overnight.  Sometimes these building policies greatly impact the character of a place.
 
  I received a call recently from Bob, a reader in Ashburn.  His father lives in Reston six months of the year and Naples, Florida the other six months.  It seems that dear ol’ Dad has been encouraging Bob to buy a second place while they are still affordable.  That’s a wise father.  Buying a second house that you can use for a vacation home and perhaps rent out may be a great way to determine if that’s where you want to ultimately retire.  In the category of “if only I had known then what I know now”, my Dad had a condominium at Carolina Beach, NC that he sold a few years ago.  Now that same place sells at 3-4 times the price!  Even though the housing market has flattened in Loudoun County in the past year, we’ve certainly seen the same trend locally over recent years.  If you’re in your 30s or 40s and retirement seems like a distant dream, you may want to consider this option.  Don’t kick yourself ten years from now for what might have been.

“The best time to start thinking about your retirement is before the boss does.” Author Unknown

A Del Webb survey in 2004 revealed that 55% of baby boomers intend to move at retirement. Let’s look at a few factors in considering retirement and relocation.

First, if you’re contemplating retirement, you may have aging parents to consider. What is their health like? What other family and professional resources are needed or are available to assist them? If you have a daughter in Cincinnati and a son and his family in Atlanta, you may not feel tied to Loudoun County at retirement. If your children and grandchildren are in Northern Virginia, staying near this area may be more desirable.

With finances you want to look at your income from social security, pensions, and retirement savings along with the equity in your home. You may want to consult a financial planner to help you determine whether your retirement income can sustain your current lifestyle. Will you want or need a part-time job? The good news is that the cost of living generally is going to be lower for most other places.

Would certain locations help you to maintain your health and an active lifestyle? Do you or your spouse currently have health issues? Would living near a university hospital or top-flight healthcare facility be a strong consideration?

When considering where to retire, most people are going to start their list of potentials with places they’ve lived, vacation spots, communities where family members live, or where friends have moved. Giving thought to the topic on your next vacation or family visit is a worthwhile exercise. Can we see ourselves living here? What would we gain by moving here? Keep in mind: a place that’s great to vacation to in July may be unbearable for you for any number of reasons in January.

If we move, how accessible will our new location be to family and friends? I know of a couple who moved from the Chicago area to South Carolina only to find that those cherished visits from grandchildren were infrequent. For some of you, fewer visits from relatives may be exactly what you’re looking for! In this couple’s case they wound up moving back.
What do you want in retirement? Are you looking for recreation- golf, tennis, boating, etc.? Or are volunteer opportunites what you seek? Would you like to start a business? Do you want dining, shopping, and entertainment convenience? Perhaps being near a college campus and its activities would be important to you. Maybe a small town would provide the pace of life you’ve dreamed of.

I attended the Live South Real Estate Show in Reston, Virginia in September. I had some very interesting and informative conversations with representatives from the 50 or so communities who participated during the three day event. Here are some of my notes:

The Settings of Black Mountain is promoting its “convenient seclusion”, just a mile and a half from the town of Black Mountain and 15 minutes from Asheville, N.C.
An “urban resort” can be found just across the river from Savannah, Georgia at The Reserve at Savannah Harbor.

Berkshire Forest, located in Myrtle Beach, offers a beach club, golf membership, and easy access to the attractions of this beach town. They also have a three day, two night discovery package to visit the area for $99.

Ocean Isle Palms has positioned itself as a Caribbean beach community in Ocean Isle Beach, N.C. They are conducting a property release October 6-8.
Platinum Properties establishes “Southern boutique” communities of 10-50 home sites in Southeastern North Carolina.

A “rural but upscale” development can be found in Hot Springs, VA at Homestead Preserve which boasts The Homestead and its 240-year history as its club. They take pride in the preservation of the land and have 11,500 acres, of which only 3% is being used for 450 home sites, park areas, and other aspects of development.

Oakhurst in Lewisburg, West Virginia has America’s oldest golf course in Oakhurst Links. The course is played with the period equipment from 1884.
Harmony Township in Georgetown, SC ” will become a southern coastal town where small businesses, shops, and family homes co-exist in a tranquil neighborhood.” The Town Center will be within walking distance of homes while both Charleston and Myrtle Beach are about an hour away.

At the Rarity Communities reception on Sunday afternoon, Fred McArthur, Executive Vice President, asked the gathering, “How many of you have dreamed your whole lives of living in East Tennessee?” Three hands went up. Fred went on to say that after asking that question in Boston, Connecticut, California, and other places that was the first time he had any hands raised. I should note that one of the hands that shot up is a woman named Dixie, a Reston resident, who is from East Tennessee. I’m not sure her response really counts, but, nonetheless, I thought it was interesting.