What would you pay for..

a very small 2 bedroom house that is liveable but needs a lot of work. Its on an acre and an 1/8th of level property. Its on a very nice block - Radio Avenue in Miller Place (great school district)

My MIL is planning on selling us her house at the end of the year. She hasnt told us an exact date or an exact price yet I just keep thinking of all the work we will need to do to have exactly what I want. It will cost lots of money and take quite a while. The property though is GORGEOUS!

Im looking on mlsli and Im finding houses that are PERFECT with pools, but the land is like 1/3rd of an acre.. I just dont know what to do.