Not Alex Schibli, the retired Port Authority worker who snapped up New York City's Rat Island (pictured above) for $176,000 at auction last year. Even though the 2.5-acre rock at the northwestern end of Long Island Sound is zoned for residential use, his immediate plan is to leave it as is: barren.
"I'm not really planning anything different for the island," Schibli, 72, tells the New York Post.
All he's done to the place is add an American flag and two "private property" signs, the Post reports.
He does, however, want to change one thing: the island's name.
According to folklore, Rat Island got its name in the 1800s when prisoners -- or "rats" -- would use the island to hide out after escaping from a jail on nearby Hart Island. But it was originally known as Rattle Island in the 1600s, when locals would use rattles to warn boaters of the island's location.
Schibli apparently prefers the original name.
Other than that, he just wants his slab of rock to be a place where he and his family can have fun together.
"I love swimming, canoeing and collecting mussels -- and we're going to have lots of fun with my family [on the island]," Schibli tells the Post. "There'll be picnics, barbecues and the occasional party, but, more than anything, we're just going to relax."
Schibli is considering building a vacation home on the island in the future -- one that would be solar-powered. But that's a long way off.
There was once a home on Rat Island, but it was destroyed by a hurricane in 1938. The stone foundation of that home remains on the island today.
Best Beach Towns for Buying Foreclosures
Owner of NYC's Rat Island Plans to Leave It a Barren Rock
Average sale price: $355,604
Average foreclosure discount: 28.17%
The quintessential California beach town, Santa Cruz is located about 75 miles south of San Francisco. It is comfortably situated between thickly wooded mountains and clean sandy beaches. The Santa Cruz boardwalk entertains children and adults alike: It has an amusement park complete with roller coaster, arcades, mini-golf, bowling, shopping and outdoor concerts.
Average sale price: $237,405
Average foreclosure discount: 30.34%
The Town of Barnstable is comprised of several famous Cape Cod villages, including Hyannis. It's also close to the islands of Martha's Vineyard and Nantucket. Hyannis has a large natural harbor and is the largest recreational boating port on Cape Cod. The Kennedy Compound is also located in Barnstable, in the village of Hyannis Port.
Average sale price: $345,799
Average foreclosure discount: 30.56%
Honolulu, Hawaii's capital located on the island of Oahu, offers top quality surfing, famous Waikiki Beach and pristine hiking trails. It also has an exemplary public transportation system, which connects its world class shops and restaurants to its relaxing beaches.
Average sale price: $161,819
Average foreclosure discount: 30.38%
Since Las Vegas isn't on the beach, your best bet for being able to gamble and ride waves is Atlantic City, N.J. Besides its familiar street names (see: Monopoly), the city has a world famous boardwalk lined with casinos, shops, restaurants and an amusement park.
Average sale price: $274,077
Average foreclosure discount: 38.80%
After a long day enjoying the sunny beaches or hiking in majestic mountains, spend the night tasting some of the finest California wines in Santa Barbara's wine country. The city also has a temperate climate year-round, so it is a great place to live if you want to avoid snowy winters and scorching summers.
Average sale price: $156,148
Average foreclosure discount: 40.43%
Marco Island has miles of white-sand beaches and beautiful year-round weather. Naples, just north of Marco Island, also offers white sand beaches and has world class golf courses and exciting outdoor activities. Naples is also close to Everglades National Park.
Average sale price: $78,851
Average foreclosure discount: 44.38%
Texas has beaches, too! Miles of the Gulf of Mexico shoreline extend across Corpus Christi, where there are plenty of sites and attractions. Visit the U.S.S. Lexington Museum or the Texas State Aquarium. For more outdoor adventures, check out Mustang Island State Park, where you can enjoy fishing, bonfires, kayaking and camping.
Average sale price: $93,188
Average foreclosure discount: 45.11%
Another outdoorsy paradise, Vero Beach offers -- not surprisingly -- miles of beaches and is home to the Pelican Island National Wildlife Reserve. Enjoy airboat tours, scuba diving, snorkeling and many other water and beach sports.