Buying a lakefront home in Michigan is a dream for many — but it's a more complex purchase than a typical residential property. First-time lakefront buyers often make costly mistakes simply because they don't know what they don't know. Here are five of the most common missteps, and how working with the right realtor can help you avoid every one of them. Mistake #1: Not Understanding Riparian Rights Riparian rights govern what you can and can't do with the water adjacent to yo