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Is it worth it? Musselburgh, £285,000 o/o

What it is: Jane Cottage, an attractive stone house on a good-sized plot "in need of modernisation". It has two reception rooms and four bedrooms. The garden, facing south, is surrounded by a stone wall. There is also off-road parking and a garage.

The problems: The house has been little altered for decades, save for some cosmetic changes. In the kitchen there is a free-standing Belfast sink and a cooker that sits in a tiled fireplace. Heating comes largely from electric fires and radiators.

The advantages: This house is a blank canvas with a smattering of original features. Its fanlight is particularly nice. There is an open viewing today, and you can expect plenty of interest. Unless there are some very serious underlying problems, the new owner will have a gem that they can buff back up to perfection.

Lindsays, 0131 229 4040, property.lindsays.co.uk