The prime waterfront properties are those edging Lake Michigan and Lake Huron, with priceless views of the Mackinaw Bridge commanding top dollar. Although property values are impacted by location and frontage, costs don't reach the extreme highs experienced in some of the very upscale Little Traverse and Grand Traverse developments. If you're willing to forgo a home on a Great Lake shoreline, you can find a number of reasonably priced alternatives. Mackinac Island doesn't really fit into these same categories since the State of Michigan owns at least 80 percent of the land. Those gorgeous old Victorian homes that you see rising from the bluffs are traditionally passed through the generations to family members.
Availability is extremely limited.
Condominium complexes have been increasing on the island, offering an attractive housing option. Any new construction must follow strict architectural guidelines and must be approved in advance. Also, remember that construction on an island requires that all materials must be shipped, which escalates building costs. The Traverse Area Association of Realtors can provide referrals and information about its more than 90 member agencies in Grand Traverse, Leelanau, Benzie, Antrim and Kalkaska. It can also assist with general real estate information, legal issues, relocation information and referrals to overall support services.