Drawing inspiration from majestic Lake Michigan, Bay Harbor Golf Club was designed to prepare you for an experience you'll never forget.  Fondly referred to as "The Pebble Beach of the Midwest" your first connection to Lake Michigan appears along the 1.7-mile journey down Coastal Ridge Drive.  Coastal Ridge Drive was named in honor of Pebble Beach's famed 17 Mile Drive.

Upon your arrival, you will notice many nautical-themed elements are brought in to play around the Clubhouse and golf courses.  
Rather than using traditional flags on The Links, Quarry, and Preserve course, the burgee (a triangular flag flown from the mast of a ship for identification) was chosen to represent Bay Harbor Golf Club along with the traditional nautical colors of red, blue,…

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When you buy a vacation home, you’re making one of the few investments that offer both personal and financial rewards. And you don’t have to be a real estate tycoon to pull it off.

Buy a vacation home to live on your terms

Buying a vacation home allows you to diversify your income, build wealth, plan for retirement, and, of course, take a vacation at no extra cost to you. Some investors weigh one benefit more heavily than the others, but once you’re clear on why you want to buy a vacation home, you can focus your search and match your investment with your priorities.

Diversify your income

When you buy a vacation home and choose to rent it out, it’s possible to create a new, short-term rental revenue stream. This income could supplement…

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Vacation rental homes are spiking in popularity and for good reason. A 2016 HomeAway survey showed that 70% of vacation rental homeowners could pay at least half the mortgage on their vacation home from the rental income it generates. For owners who work with professional property managers, the cash flow benefits may be even greater.

Investing in a vacation home that’s also a vacation rental can create a best-of-both-world scenario: You get to enjoy downtime in one of your favorite locations while getting an income-generating property that helps pay for itself. Full-service vacation rental management companies like Vacasa make life even easier by booking and communicating with guests while also managing the day-to-day responsibilities of the…

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Once you have a clear understanding of why to buy a vacation home, the next step is understanding the cost—whether you can afford it.

Budgeting for a vacation home is different than your primary residence, in part because mortgage lenders and the IRS will treat your purchase differently based on whether they categorize it as a second home or an investment property.

Mortgage lenders and the IRS look at different factors to categorize your home (and may define them differently), but generally speaking, an investment property is rented out to generate additional income while a second home is for your own personal use. Taking out a mortgage may be easier for a second home than an investment property, but there are trade-offs when it comes to how you…

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Before you sell, consider swapping your aging income property for a vacation home in a like-kind real estate exchange.

Put simply, a 1031 exchange is IRS-speak for swapping one income property for another. It’s a unique tax benefit—with some specific requirements—that’s becoming more common in real estate deals as property owners increasingly look to trade up for vacation homes.

In 1031 exchanges (or "swaps"), you’re changing your investment in the eyes of the IRS, transferring the gain from one property to another while allowing your investment to grow tax-deferred. If you qualify for a 1031 exchange, you’ll defer paying taxes on the sale until you sell many years later. And since there are currently no limits to how many times you can 1031…

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For many, dogs are less like pets and more like important members of the family. They’re best friends and constant companions, helping cultivate love, warmth, and joy. And, according to the data, no one likes to leave their four-legged family members behind when they travel.

The number of guests traveling with dogs is increasing year over year. According to a recent TripAdvisor survey, 53% of pet owners take their furry friends with them when they hit the road. However, only 25% of vacation rentals are willing to accommodate pet owners. With so many guests searching for dog-friendly rentals, switching over may be the competitive edge you need to earn more.

Read on to learn about the benefits of becoming a dog-friendly Northern Michigan Escapes…

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Michigan is loaded with terrific ski and riding areas. No matter where you go in the state, from the southeast corner by Detroit to the northwest corner in the Upper Peninsula, you’ll find outstanding slopes. But the skiing and riding that made Michigan famous for downhill thrills and fun are all located at the top of the mitten in the Petoskey Area. The three Petoskey Area resorts — Boyne Highlands, Boyne Mountain, and Nub’s Nob — have a total of nearly 170 downhill runs.

No matter what your ability, there are more than enough to keep you coming back for more. When you step off the slopes, the four communities of Petoskey, Harbor Springs, Bay Harbor, and Boyne City beckon with shops, restaurants, music, and warm northern Michigan hospitality. Since all…

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Joining a homeowners’ association can be an added perk of living in certain communities. In essence, a homeowners’ association allows a community to agree to share the costs of the extra benefits of living in said community.

HOAs are common in gated neighborhoods with special accommodations like a pool, tennis courts, regular lawn service, and more. They can also afford greater security and fund neighborhood maintenance problems that may arise.

With shared community amenities, a local body to keep the neighborhood uniform and safe, and a community fund to help with issues around the neighborhood, HOAs provide a kind of safety umbrella for neighborhood members.

HOAs can make a neighborhood more pleasant and livable by allowing for shared…

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