Although it's a relative bargain ($350K is a fraction of the price of the average apartment in many cities, after all), ownership does come with some fine print. For example, due to strict development rules in Scotland, you'd be prohibited from building up the island much beyond what's already there. In this case, that means you're mostly limited to renovating the existing buildings on the property (two delapidated cottages). However the previous owners have secured "consent" to add a bit more infrastructure including a pier, storage shed, reception area, new "agricultural buildings," and an additional cottage. In terms of power, you have permission to add eco-friendly methods including solar panels and a windmill.