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Homeowners often find themselves at a crossroads when it comes to updating where they live . The choice between buying a new home , rebuilding an existing one or remodeling can be a tough financial , and sometimes emotional , decision . In today ’ s market , finding and affording a new home has become harder and more costly than in previous years . So , the choice becomes if you need more space or upgrades , do you remodel or rebuild ? While remodeling might be the best option in some situations , there are compelling reasons why tearing down the home and starting over is a superior choice for many .
According to Bloomberg , we are currently in the least affordable housing market since the 1980s . In addition to rising interest rates , people who snagged a low interest rate during the last few years are not selling , resulting in low inventory . This lack of homes for sale makes rebuilding an existing home a great option , especially for those who want a lot more space , modern updates , and love where they live . Many older homes have outdated electrical , plumbing , or HVAC systems that are costly and challenging to upgrade . Also , building codes and regulations change over time . Rebuilding the entire home lets owners incorporate modern , energyefficient technologies , create a more efficient infrastructure , and brings the home up to code with safety standards and regulations .
Thomas James Homes ( TJH ), the nation ’ s largest replacement homebuilder , has more than 500 homes in production across Southern California , Northern California , the Pacific Northwest , Colorado , and Arizona . With TJH ’ s BUILD division , the company helps homeowners build a new home on their existing homesite with an ownerfocused approach .
“ With BUILD , homeowners are able to tear down their old house and rebuild a new , modern home on their existing homesite without the stress normally associated with custom building . We help homeowners choose a plan and select a style . Plus , we take care of everything , from pulling permits to coordinating with architects and designers to installing finishes ,” said Brian Reid , Chief Sales and Marketing Officer for Thomas James Homes on behalf of the business .
One concern in this financial climate when considering rebuilding is the cost , and the rising interest rates . People often think that renovating will be less expensive in the long run as they think the interest rates for rebuilding their home will change and increase as the project goes on .
This is not the case , as most builders provide their clients with preferred lenders who use a one-time close , construction-to-
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