A community grew up around Fox Den Golf Club in Farragut, TN.
My wife and I had "the conversation" this morning: Where do we want to live in retirement? Shall we own one home (in a golf community, of course) and either travel or rent short-term in a city or near our children's homes, wherever they wind up? Or two homes, north and south, possibly both with golf nearby if not within the gates. (Note: If we can afford to have a place in a big city like New York or Boston, I am willing to forgo the close proximity to a golf course in favor of using my feet or public transportation to go to restaurants, shopping, theaters and museums. Anything to avoid the car...)
The conversation, which has been ongoing for a few years and has a few more years to run, got me to thinking about what it would take, financially, to have two homes in golf communities in the north and south. For today, I decided to consider those communities where the total of real estate is no more than $500,000. In the samples below, I am including only communities in the southern U.S. that I have visited and can recommend. I know some of the communities in the north, but some I don't (I am happy to visit those in New England for anyone interested). There are limitless combinations of communities to consider, and if you have a particular state or area in mind, or have a different price range, let me know and I will do the research (no charge, as always).
In coming weeks, I'll offer some ideas for pairs of communities in the $750,000 and $1 million categories.
Not taxing at all: Fox Den Country Club, Farragut, TN, and Owls Nest community, Campton, NH
Both Tennessee and New Hampshire are zero-income-tax states, so those with considerable pensions might find them attractive. Fox Den, which I played and reviewed (click here) a couple of years ago, is a classic course with an involved membership. The course was both smartly laid out and in peak condition; it plays host annually to the Nationwide Tour's Knoxville Open, which is typically televised. The golf course and adjacent neighborhood were not part of the same planned development; some homes are a little closer to the course than in more modern layouts, but rarely is the effect distracting. Current listing: 2 BR, 2 BA condo, $160,000 (sale pending).
Owls Nest is a more traditional planned resort community, with a challenging mountain golf course by Michael Mungeam (rating 74, slope 133). The community is about 30 minutes from Lake Winnipesaukee and two hours from Boston in the heart of New Hampshire's White Mountains. It offers both single-family homes and condos. Annual golf membership is $3,250 for unlimited play (cart extra), but other lower-priced memberships are available if you play outside high-traffic times. Current listing: 2 BR, 2 BA furnished one-level condo with fireplace and mountain views, $299,900.
Life's a beach: Ocean Ridge Plantation, Sunset Beach, NC, and Ocean Edge, Brewster, MA
For those who need the salt air 24 x 365, plenty of options abound north and south. Ocean Ridge is just five miles from the Atlantic and surrounded by six outstanding courses, including the new Leopard's Chase, designed by the hot local architect Tim Cate. Homes are mostly single family but they run the gamut from small and tidy to McMansion size, with most in the area of $600,000. However, in this market, bargains abound. Current listing: 3 BR, 3 BA, single-family, $250,000.
The Ocean Edge community actually goes back to 1890 when it served as a private estate overlooking Massachusetts' Cape Cod Bay. Today, the resort community includes an 18-hole Nicklaus Design course and all the amenities you would expect from a vacation haven. Membership is pricey, at $35,000, with dues of $400 per month, but you can defray some of that cost by renting your unit (most are rented 8 to 12 weeks per year or longer). Current listing: 2 BR, 2 BA condo on 5th fairway, $178,900.
Arnie north, Jack south: Pawleys Plantation, Pawleys Island, SC, & Farmington Woods, Avon, CT
Pawleys Plantation, where my wife and I have maintained a second home for the last 10 years, has an excellent selection of condos and patio homes (on small lots) beginning at under $200,000. Initiation fees for the semi-private Jack Nicklaus golf course (circa 1989) are $15,000; I have rarely encountered a problem arranging a tee time of my choosing because of outside play. All but three holes run along the marsh on the back nine, some of the most attractive golf views in the Low Country. One current listing: 3 BR, 2 BA, single family, $314,900.
Farmington Woods is less than a mile from my primary home in north central Connecticut, about 20 minutes from Hartford and smack in the middle of New York and Boston, two hours from each. The community, a mix of condos and single-family homes, was developed in the late 1960s around a hilly, sometimes quirky design by Desmond Muirhead. All initiation fees for the private course have been waived for 2009, and dues for the year are just $4,700 per couple. I've played the course a number of times, and although its occasionally blind shots and elevation changes will not be to everyone's taste, it is typically in very nice condition, and staff and members are quite friendly. Current listing: 3 BR, 2 BA condo, $186,900.
Connestee Falls, Brevard, NC, and Crail, Scotland
Okay, this may seem a little fanciful, but the dollar has gained 50% in value against the British pound in just the last year, making real estate in the more rural parts of the UK a bargain.
The George Cobb designed golf course at Connestee Falls is one of those that feels private but is actually open to public play. It appeals to all golf abilities, maybe a little more so for the higher handicapper than the single-digit player. The community has a little age on it, at 30 years, meaning some homes are in need of a little cosmetic makeup and bargains abound. Current listing: $3 BR, 2 BA, $330,000.
The small and charming fishing village of Crail might be one of the best
places on earth for golfers resistant to high-priced and busy golf resorts. Crail Balcomie and Craighead Links are within just two miles of the village, and St. Andrews is just a 20 minute drive (and you pass the famed Kingsbarns and the new Castle Course on the way). The Crail Golfing Society offers a special "overseas" membership but it includes only four rounds per year. Green fees, however, are reasonable. Spaces inside Crail’s homes are tighter than U.S. standards, but you will probably want to spend most of your time on the golf courses and strolling through the fishing village (and perhaps some time in the town’s pubs as well). Current listing: 2 BR, 1 BA former doctor’s offices, conversion needed, in village of Crail, $162,000.
Crail Balcomie Links features double greens and knockout views of the Firth of Forth.