Developing a property can be hard and expensive work. Two homeowners from Gravesend tell KERRY ANN EUSTICE about the highs and lows of their project so far

It's practically Sarah Beeny's (Property Ladder) favourite catchphrase, "buy in an up and coming area." Week after week she tells wannabe developers to do so, but in reality how easy is it?

Work colleagues Tim Lane and Ryan Williamson are two people who managed the homes holy grail' of buying a property in an area undergoing regeneration.

They purchased in Gravesend, a location which they predicted would be ripe for regeneration because of the overspill from nearby Ebbsfleet.

And they were right millions of pounds are being pumped into a facelift for the town centre and towards putting public transport, such as the train station, back on track.

They bought earlier this year, just before the plans for the town centre were announced and say the low price and transport developments nearby were the biggest pulls for them.

Tim said: "We could see there was going to be a lot of investment in the area, the nearby Ebbsfleet International station was in the completion stages and the prices here were low in comparison to other areas. We picked up a three-storey terraced town house for £150,000. It was a property we could afford and felt we could work to increase the value.

"The transport links were a big factor in our decision professionals will be drawn to Gravesend as a result. It has both current and future potential."

Tim and Ryan set out with the hope of making profit from their project and insist the current movements in the market are not worrying them.

Tim said: "We live in the property, so it's more than just a development project, it's an investment for the long term. We're not just in this for short-term gain."

When Tim and Ryan first moved in they say there were three generations of decoration to deal with. After stripping five layers of wallpaper from the walls there were designs indicative of both the sixties and eighties showing through.

They wanted to re-establish the layout of their property and make it more appealing to a modern market by considering the needs of contemporary buyers. They plan to expand both the bathroom and the kitchen, creating an open-plan layout to make a living area which will blend into a breakfast bar and then the kitchen.

"We are modernising the home. It needed to be totally redecorated.

"Our jobs were a big inspiration. We work with a lot of interior designers and architects in many million-pound-properties and wanted to bring aspects of that level of quality to our own home."

There have been some challenging times along the way, as Tim and Ryan are carrying out all the renovation works themselves. They have learnt how to apply plaster and Ryan is a qualified electrician so the wiring work isn't a problem.

However, they discovered moving radiators can leave you without hot water for indefinite periods of time, but its not all been bad, they have had some strokes of good luck too.

Ryan said: "We applied for a grant from Gravesham Council for restoration works, as we found our home was located in a conservation area.

A regeneration officer came and inspected our home and we are going to be awarded some funding to restore the front of the property."

"We have dedicated much of our time to the renovation and when you see a stage finished it makes you want to do more.

"It's such a rewarding project seeing the rooms and therefore the property develop, especially as we know it is all our own work."