With families putting expensive vacations on hold and choosing to spend their money closer to home during the shaky economy, buying a vacation home within driving distance of Atlanta has become a more cost-effective alternative for some locals. And Atlantans are lucky to live close to both the mountains and the ocean, making popular destinations like the mountain towns of Blue Ridge, Georgia and Highlands, N.C., and seaside communities like Alys Beach, Fla., easily accessible.
Deb and Mike Stapleton of McDonough, managers at AT&T and the Southern Company, respectively, built a three-bedroom, two-and-a-half bath vacation home in Blue Ridge in March. They has previously looked at at least 100 houses but most were more weekend homes and not quite big enough or stylish enough to eventually retire in, as the Stapletons plan to do. They finally found their dream home for $275,000. The home was built by popular local builder Keith Sumner, who uses lots of stone, local hardwoods and glass.
"He really puts a lot of detail into his houses," said Stapleton.
“It’s just a phenomenal house,” said their agent Rachel Callihan with Blue Ridge Harry Norman Realtors. “I could sell it 10 times this year if there were 10 more of them.”
Despite the economy, Callihan said the Blue Ridge real estate market is going strong.
“Even in the worst market it’s kind of boomed in downtown Blue Ridge,” said Callihan. “I think it’s because people are staying local. People from Atlanta are driving up to Blue Ridge instead of driving to Florida or going overseas.”
Callihan said 90 percent of her vacation home buyers are from Atlanta, an hour and a half away.
“They want privacy, they want a view and to get away from the hustle and bustle and stress,” said Callihan of her typical Atlanta customer.
Homes in Blue Ridge generally sell for $175,000-$300,000, said Callihan. Part of the attraction is that more than 40 percent of the land in Fannin County is part of the Chattahoochee National Forest, which means there are tight controls on development. Also appealing, said Callihan, are the number of shops and restaurants in downtown Blue Ridge, just 14 miles from Deb and Mike Stapleton’s home. In addition to homes designed and built by Sumner, Callihan said there is a big demand for log homes by Ron Coleman.
“It sounds a little arrogant but I feel like everyone I sold to this year had instant equity. Every one of them got a good deal," said Callihan. "I feel like I could turn around and [re-sell] almost every property and they would make a little money on it.”
John Renaud, an attorney for Turner Broadcasting, and his wife Jennifer Schiavone, who works in Turner Studio’s digital department, bought a two-bedroom, two-bath A-frame home in Highlands, N.C., in 2010 and renovated with the help of local contractor Pete Schandolph.
“We had these grand plans of having a place in Costa Rica or a place in some ski area,” said Renaud. But a visit to Highlands changed the couple’s mind. “It’s actually a very reasonable trip,” he said of the two-hour drive. “I sometimes commute in in the morning from up there, stay over on a Sunday and wake up at six in the morning on Monday and cruise right in. It’s not that different from some of the outer ’burbs in a way. I like having a place that’s kind of close that you can grow roots in and get to know people.”
Vacation homes range from $225,000-$5.9 million in Highlands, N.C., said real estate agent Pat Allen. She estimates about 45 percent of her buyers hail from Atlanta. For vacation home owners like Renaud, the appeal is an escape from blazing Atlanta summers and the lure of some of the country's best mountain bike trails.
Not everyone wants to head to the mountains for vacation. In 2008 Dean and Amanda Trevelino, along with Genna Keller, Dean's business partner in Trevelino/Keller public relations firm, built a 2,600-square-foot, three-bedroom home in the Gulf Coast community of Alys Beach, Fla. Located between Destin and Panama City, the vacation home is a five-hour drive from Atlanta, but the recent completion of the Northwest Florida Beaches International Airport less than 15 minutes away provides a quicker transportation option.
The community's family-friendly vibe and Mediterranean-chic flavor is what attracted the couple.
“For us it was the architecture that caught our eye," said Trevelino, of the area's distinctive modern style. "My wife and I are modern enthusiasts.” Trevelino used Atlanta contractors to build the home, which he estimates saved him 15 percent to 20 percent of the cost had he used Florida contractors at the time.
“We’re in a very different market today,” cautioned Trevelino. “If I was building a home in Alys Beach today I would most likely use local resources because they’re hungry.”
Alys Beach home sites start at $344,000 and finished homes begin at $995,000. Alys Beach marketing director Kerri Price said 20 percent of Alys Beach homeowners are from the greater Atlanta area.
Beyond providing an out-of-town respite for the Trevelino family, the Alys Beach home has paid off in other ways. During the peak season from May through Labor Day, the home is rented out to vacationers for as much as $750 a night. And the Trevelinos have recently explored the idea of house swapping through sites such as www.luxehomeswap.com and www.3rdhome.com, where they can exchange their home for a vacation getaway in the Tennessee mountains or overseas in Italy. More than just a home away from home, vacation homes are giving Atlantans an opportunity to ride out a crummy economy in style.
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