Patio homes: The good life on smaller scale

        More and more retirees and vacation home buyers are deciding that bigger is not necessarily better, but it sure is more expensive.  That is why, with sales of McMansions languishing, developers are adding homes to their portfolios that are generally under 2,200 square feet, sit on lots of 1/3 acre or smaller, and do not require any exterior maintenance by their owners.

        Patio homes are attractive to buyers for a number of reasons.  First,

they cost less than the single-family homes in the neighborhood next door; having the least expensive home in a community is never a bad thing for resale potential.  Second, freed from maintenance of lawn, landscaping and exterior of the house, the patio homeowner who does not enjoy time in the garden as much as time on the course -– I raise my hand at this point –- can hit the links without a guilty conscience.   Third, patio homes fit the retirement lifestyle perfectly, especially those homes that are on one story (the proverbial ranch style).  A well-designed patio home can accommodate guests comfortably, with the master bedroom at one end of the house, the guest rooms at the other end, and the kitchen and “activity” rooms (den or living room) set in the middle.  Just because you own a smaller home doesn’t mean you and your guests have to go bump in the night.

 

Less is more in a "Not So Big House"

        During the heyday of the housing market, patio homes were sniffed at by those inclined toward McMansions.  But the economy and a small-is-better philosophy blazed by such books as “The Not So Big House” have made smaller homes less unfashionable and close proximity to next-door neighbors more tolerable.  (Note:  I’ve visited communities of $750,000 homes in Austin, TX, that were closer to each other than most patio homes.)

        There are plenty of available patio homes across the southeastern U.S.  For example, a 2,100 square foot 3 bedroom, 2 bath brick home is available in Pawleys Plantation (Pawleys Island, SC) for $359,000, with a view of a pond and the expanse of the par 3 3^rd hole on the Jack Nicklaus course.  A 1,750 square foot home in St. James Plantation, near Southport, NC, features 3 bedrooms and 2 baths and is surrounded by a white picket fence.  It is listed at $299,000.

        I spoke with the developers at Cedar Creek in Aiken the other day about their own new section of patio homes called Green Hills, which opened in August.  Green Hills was not in Cedar Creek’s original master plan, but changing lifestyles and habits, as well as more modest expectations brought on by the economic crisis, caused Cedar Creek to rethink its site plan.

 

Detached new home for the price of a condo

        Green Hills sits at the very edge of the community, close by but separated from the larger single-family homes.  The neighborhood includes a cluster of 27 1/3-acre lots that sell for an average $50,000 per site.  Square footage for homes in Green Hills will run from 1,300 to 1,900 square feet, enough for a comfortable three-bedroom house.  Four of the lots have sold and one owner has started construction.  The largest house will cost a little over $300,000 total, but most will fill the $250,000 to $300,000 range.  A few of the lots have views of adjacent ponds but, for the most part, they all have wooded views.

        A nice Arthur Hills designed golf course wends its way through Cedar Creek, although it is not within eyeshot of Green Hills.  Initiation fees are modest at $4,000, and some discounts up to 50% are available to those who purchase a home in the community.  Although the course is open to the public, it attracts a lively group of Cedar Creek residents.

        I visited Cedar Creek a few years ago and can recommend it as a place to consider in the Aiken area.  Aiken, which is right out of central casting for southern hamlet, is a magnet for those with an interest in things equestrian.  The town has been a center of horse-related activities (races, polo, shows) since the 19^th Century when wealthy Charlestonians summered in Aiken to escape the heat and threat of malaria in their city.  Today, with a low cost of living and proximity to Augusta, GA and Atlanta beyond, many retirees with horse sense are choosing Aiken for the next phase of their lives.

        Please contact me if you would like more information about Aiken, Cedar Creek or any other of the excellent golf communities I have visited in the southeast.

Purchase a lot and build within six months, and golf membership is 50% off at Cedar Creek, or a net $2,000.  Photo courtesy of Cedar Creek.