If you happened to fall into a spare $1 million and change, how would you spend it? Would you rather buy a condo in the hot real estate market of Portland's Peninsula or invest in your very own private island?

Greer Island off the coast of Vinalhaven Island is on the market for the bargain price of $995,000. Your purchase gets you 5 acres of ocean island land. The listing on privateislandsonline.com says that Greer Island is "partially developed". That could be referring to the modest bus stop-style shed standing on one end of the island.

privateislandsonline.com

At low tide, the island is connected to Vinalhaven's sand beach by a sandbar. Carver's Harbor, with its ferry to the mainland, is just around the corner from Greer. The perfect place to enjoy the light-year stars.

privateislandsonline.com

privateislandsonline.com

There are meadows and stands of spruce and balsam, as well as wild strawberries and roses.

privateislandsonline.com

The island is approved for a 600-square foot structure. The existing shed-style structure could be renovated as additional living space.

privateislandsonline.com

If you need a bigger living space to spread your wings, for about $350,000 more you can score yourself a condo with sprawling views of Casco Bay... But you won't be able to say you own a private island. Decisions, decisions.

realtor.com