I'd think most of the concerns would be similar living anywhere in SoWal, not just in Watercolor. About 40% of the houses on my street, near Eastern Lake, are full-time occupied, and just 2 of them have kids, 1 pre-school and 1 pre-teen. They both engage their kids away from the house.
The biggest adjustment you will have to make is living in a resort area, if you have never done it before. It's very different than living in a small town, suburb, urban area, or in the country. Depending on your situation now, you may have to adjust to different commutes to "necessities" like the doctor, vet, school or shopping. We have everything you need, of course, but if you have special needs, like a specialized doctor or surgeon, you might have to drive a little farther to get to one.
I think everyone who lives here now is used to the cycle of the tourist season, but it takes some getting used to - for instance, we are in a down time right now between spring break and summer but the weather is warm, so we are seeing a lot of weekenders. It's the time of year when you might want to dine out on a Wednesday instead of a Saturday, and get your grocery shopping done before the weekend. In the dead of summer, you eat out less, or only at certain places. In the winter, you go to restaurants constantly, because they have winter specials and it's so nice to go when it's not crowded.
It's not bad, it's just different. Just like in the suburbs, you know you have to wait until 7:00 to go out to eat or you will still be stuck in the "going home from work" traffic, or you can count on a faster commute in the summer when the kids are out of school, and that if it's raining on a Friday afternoon in Atlanta, everyone will forget how to drive and your trip home will take twice as long.