Westmark Credit Union
We are a full-service financial institution, owned by our members & committed to the development of their financial future. We have 12 convenient locations.

Deciding Whether to Buy or Build Your Dream Home

When you’re ready to invest in your dream house, should you buy one already on the market, or should you start from scratch and build your own home? There are many factors to consider, including the loans you will need for each type of purchase. Which choice is right for you? Here are some of the things you should consider when you want to make the move to your dream home.


If you are in a rush to move, then building a home may not be the right choice. Building is a lengthy process that requires finding a lot and making a decision about every aspect of the home, down to the last light switch. When you are under pressure to move quickly, moving into an existing home is a much faster option.

If you don’t have to move quickly, then taking the time to build a house means that you won’t have to compromise on any of the features, since you’ll be choosing them all yourself.


To buy a home, you will need a mortgage loan from your credit union. To build a home, you will need a construction loan to cover the cost of building the home. At Westmark Credit Union, to be approved for a construction loan, you will need to have a home site and be working with an approved building. If you wish to build a home but don’t own a home site, then you may need additional financing for that as well.

Because of the additional loans required, building a home is generally more expensive than buying a home. However, you may recoup more of your investment in the long run, because the home you built will be more up-to-date when it is time to sell than a pre-existing home you purchase.


For many people, the decision comes down to preference. If you dream of having a home you’ve designed from the group up, building is the perfect fit. If you’re willing to compromise part of the vision for convenience, then choose a pre-built home.

Westmark Credit Union can help you get into your new home with competitive rates on loans in Idaho, whether you’re buying your first house or your dream house. Learn more by calling (208) 523-1071.

Categories: home


No Comments Posted
2520 Channing Way
Idaho Falls, ID 83404

Hours of Operation:

  • Closed Sunday
  • 9:30 AM to 5:00 PM Monday
  • 9:30 AM to 5:00 PM Tuesday
  • 9:30 AM to 5:00 PM Wednesday
  • 9:30 AM to 5:00 PM Thursday
  • 9:30 AM to 6:00 PM Friday
  • 9:00 AM to 1:00 PM Saturday