Wedding Registry for a Down Payment
Many newlywed young couples do not need an apartment full of gadgets gotten off of a wedding registry before getting a home. What they really want is a home of their own. With rising home prices, rising lease rates, and school loans, it is hard for a young couple to save money for a down payment on a house today. What if the wedding registry was designed to fund a couple’s down payment on their first home?
That’s what FeatherTheNest.com, and DownPaymentDreams.com do for a wedding registry. The co-founder of HatchMyHouse.com (a former wedding registry down payment service) estimated that people spend an average of $8,000 to $8,500 on wedding gifts for each wedding. What if a young couple had $8,500 towards buying a home?
Today, many young couples are rethinking the traditional wedding registry for this idea of crowd funding their down payment.
It could greatly help a couples financial future. A Realtor friend of mine did a down payment registry for his son. His son purchased a home in the Washington D.C. area with the money he received through the registry. 5 years later his son sold the home, made money off the home, and it has greatly helped his son’s financial future. This kind of wedding gift is a gift that helps a couple on a life journey instead of giving them a nice object on a shelf. If your kids or someone you know is about to get married, suggest a home down payment registry to them as an option.
Also see Funding College Through Real Estate.