Updated: Apr 20, 2020
In Isaiah 43:18, God says, "Behold, I create a new heavens and a new earth, and the former things shall not be remembered or come into mind." Then in Revelation 21:5, Jesus says, "Behold, I am making all things new." The Scriptures are clear: God will make a new heaven and a new earth. He will renew all creation on the Final Day.
God will renew all creation on that Final Day and complete it; however, He will not begin to renew it then. That's because He has begun to renew His creation even now. James 1:18 says, "In fulfillment of his own purpose He gave us birth by the Word of truth, so that we would become a kind of first fruits of his creatures."
God has begun renewing His creation starting with us: Those who have been baptized into His name. When God gave us birth (baptism) by the Word of truth, He made us the firstborn of His creation. In Baptism, He separates us from the rest of the world and all other creatures. God remakes the world through the death and resurrection of Christ—And He has begun changing the world by forgiving us of our sins. He has made us new creatures—creatures not made with hands or human help or skill. With His holiness and righteousness, He has taken us lowly, poor, miserable sinners, and placed us above all other creatures and works through Baptism.
This all means that this temporal life is only the beginning. God is working daily in us through His Word until the Final Day. On that day, everything will be made new. And we will be completely godly creatures inside and out. We will have no more sin, frailty, illness, weakness, or guilt. And we will live forever with the Lord in a new heaven and a new earth.