REGENERATION
LOCATION REGENERATION
When it comes to buying your first home, a desirable location takes priority for most. But what if your budget simply doesn’t stretch to the area you would love to live in? Should you compromise on square footage? Settle on a home in desperate need of modernisation? Or invest in an area of "regeneration"? Debbie Clark takes a look at what this buzzword means in reality, and takes a whistlestop tour of some current regeneration hotspots
develop affordable homes and open green spaces. Investing in an “up-and-coming” area sounds like a no-brainer, but how can you be confident that those ambitious plans will come to fruition? We recommend taking a closer look at the regeneration plans for areas local to your preferred locations, which can typically be found though a quick internet search. These will give you a good idea as to the scale of investment. Next, visit and see for yourself what has already been achieved in the locality. Finally, take a look at who is already investing – developers with a proven track record for providing high-quality homes only put their resources into projects they are confident will deliver a return. All looking good? Take a leap of faith – then you can benefit from that return too!
Regeneration typically involves the investment of public money, with the support of private investors, into areas identified as being in need of lasting improvement. Some of the best-known examples include the construction of the Millennium Dome and the creation of the 2012 Olympic Park, but the reality is that regeneration is all around us. Successful regeneration projects will always be designed with sustainability in mind, and will have positive economic, social and environmental impacts on an area, improving the quality of life for all residents. Local regeneration efforts typically include improving transport and infrastructure, providing access to high-quality facilities focused on health and wellbeing, and land renewal to
24 First Time Buyer April/May 2024
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