Classic, Contemporary Design
The Cottages have a designer layout that allows for a large great room with soaring cathedral ceilings, as well as nine-foot ceilings throughout the home. Storage space is abundant, with a walk-in closet in the master suite. This design lets you enjoy every day life with a sense of freedom to entertain with pride. With options for open concept floor plans, additional finished spaced, and your choice of finishes throughout, you can be sure to have a home that fits your style and comforts. Layouts include an entry foyer, two bedrooms, two full baths, large open kitchen, formal dining area, great room with fireplace, patio with privacy fencing, laundry room, and single or double garage with an electric garage door and pull down attic storage.
1856 sq ft House | 456 sq ft Garage
Life at the Lake
The Cottages are located just five minutes from Smith Mountain Lake, which is known as “The Jewel of the Blue Ridge Mountains.” With 500 miles of shoreline, the lake is host to many water activities such as power boating, canoeing, sailing, parasailing, swimming, fishing, water skiing, wake boarding, and jet skiing. SML’s lakefront includes six free public boat launching sites, plus land boat rentals at more than a dozen marinas. Off-water you can enjoy local golf courses, hiking trails, picnicking, camping, hunting, antiquing, shopping, and any of the dozens of restaurants with everything from pizza to gourmet five-star cuisine.
Advantages of Purchasing a Cottage
By far the biggest benefit you gain by purchasing a Cottage at Runk & Pratt Smith Mt Lake is the long term asset protection by purchasing your own deeded property, which you fully own and stays within your estate for your retirement planning and estate planning. When buying into a “Life Care Community” or Continuing Care Retirement Community (CRCC), you never own your property. Instead, it remains a contractual lease obligation accompanied with a large up front entrance fee, as well as monthly service fees. Below is a breakdown of the key differences in the CCRC model versus the Runk & Pratt model of purchasing your Cottage as an asset you always own, and only paying for care if and when you need it.
Runk & Pratt Model
No Entrance Fee
You Own Your Cottage
Just like if you own your current home, your Cottage always stays in your estate and the asset continues to build equity.
- No Service Fees
At Runk & Pratt, we won’t charge you any healthcare service fees until you need them. Your live in your Cottage and remain completely independent as long as possible. Fees will apply at the current service costs when they are needed.
- Option to Lease
You have the option to purchase and lease your Cottage until you need it yourself, which potentially means a return on your investment. Leasing must be approved by Runk & Pratt.
Continuing Care Model
Large Entrance Fee
Monthly Service Fees
No Leasing Option
Runk & Pratt Smith Mt Lake cottage residents enjoy an included membership to Carilion Wellness at West Lake.
A PARTNERSHIP FOR HEALTHY LIVING
Runk & Pratt has partnered with Carilion Wellness to open a brand new Wellness Center just down the street from the Smith Mountain Lake Retirement Community! This incredible facility boasts cardio and strength-training exercise equipment, an indoor pool for aerobics and lap swimming, a warm-water therapy pool with group exercise classes, a hot tub, six outdoor pickleball courts, a virtual golf simulator, and the Vitality Café, a healthy dining option that is open to the public.