According to data from the Q1 2024 Verisk Remodel Index, the average cost of home repairs and remodeling increased by 4% from the first quarter of 2023 to the first quarter of 2024. That’s a 61% increase from the first quarter of 2014 to the first quarter of 2024. Repair costs increased in all of the 31 categories of home repair tracked by the Verisk Remodel Index.
With the rising cost of home repairs, homeowners who love their location but need more space for a growing family, multi-gen living, pets, or rental units might benefit more by tearing down and rebuilding. Here’s why choosing to rebuild with us could be a smarter option than undergoing extensive renovations.
Avoid hidden costs
You may assume that renovating an older home would cost less than tearing it down and building a new home with personalized features and amenities. However, renovating often comes with hidden costs that many homeowners don’t realize before undertaking a large-scale project.
We pride ourselves on our end-to-end process that doesn’t leave you paying for one more small (or large) thing after another. With BUILD by TJH, the price of your new home includes the architecture, construction management, interior design, landscape architecture and installation, demolition, permit fees and other city costs, as well as a new home warranty and post-delivery support.
Avoid construction delays and budget overages
Ask anyone who’s undergone major home renovations if the work took longer or cost more than expected, and they’re likely to say “yes.” Fears about an uncertain timeline and final price prevent many homeowners from pursuing renovations or new construction.
Fortunately, TJH homeowners don’t have to worry about unexpected price increases or a drawn out construction timeline. Our price guarantee means your home’s price is locked in upon contract execution. With our delivery guarantee, we promise to complete your home within 12 months of the start of construction.
This is yet another way building a new home with TJH could save you money over renovating, as both delays (particularly if you’re renting short-term housing) and rising material costs could increase the price of your renovation. Our easy end-to-end process can also help you avoid a contractor horror story, a homebuilding money pit, or some of the other common pain points of building a new home.
Brand new everything
A new construction home may offer benefits over renovating an existing one. From the joys of a home designed to support your lifestyle to possible long-term financial advantages, a new construction home can be a rewarding choice.
Building a personalized new home could save you money compared to buying an existing market home, sometimes hundreds of thousands of dollars. A study by StorageCafe and Yardi found that homeseekers in Los Angeles County saved an average of $345,728 when they built their home, while those in Orange County saved an average of $581,372, and those in Santa Clara County saved an average of $1,101,032. Choosing to build your home with TJH sooner rather than later could also be a smart financial decision. Many people have discovered the potential benefits of new construction homes, which have grown in popularity over the past several years.
Building a new home could also save you money on future repairs and utility bills. Instead of spending a fortune on kitchen and bathroom renovations only to find major issues later, starting from scratch ensures every part of your home is brand new and backed by TJH’s new home warranty. This gives you peace of mind and protects your investment.
The opportunity for personalization
We design our homes to be supremely livable, with custom-quality finishes, functional plans, indoor/outdoor spaces, ample natural light, and beautiful exteriors. Our homes have even been recognized nationally for their livability. For example, Builder and Developer magazine recently featured TJH “as a beacon of excellence in the homebuilding industry.” Plus, working with our expert designers at the TJH Design Studio to personalize many aspects of your home, from choosing your home plan to selecting finishes, may mean you enjoy your home more than if you opted for piecemeal renovations.
Additional perks of TJH homeownership
We’re dedicated to making the homebuilding journey as enjoyable as possible for our homeowners, which includes partnering with other organizations to provide exceptional perks. New homeowners can enjoy a complimentary one-year membership with luxury travel leader Inspirato, a complimentary membership to full-service moving concierge Virtuo, a discount on smart strength training system Tonal, benefits with luxury design studio Vesta, and more. This is just one of the many ways we strive to make BUILD by TJH the smartest way to get the home you need in the location you love.
