Which is More Important, a Wedding or a House?
Which is More Important, a Wedding or a House?
Bryan makes an excellent point here. Perhaps we just need to make sure young couples know the cost of a down payment vs. the cost of their special day. The wisest choices are always made when people have all the information to consider. There are plenty of ways to have a Special Day and the savings for a home.
I read an interesting article this morning that talked about the cost of weddings and the impact on parents saving for retirement. Then I looked at the current average cost of a wedding. Wow!! Are you kidding me? Have we really brainwashed couples for so long that the whole wedding racket costs this much. The obscene overcharging that goes on with anything associated with a wedding is a whole other article. Guess how much the average wedding costs! $25,631! That's the cost for ONE SINGLE DAY.
Now, consider the down payment on a house. Given the average price of a house in the United States, that $25,000 could be a nice down payment. How long will the house last? Homeowners stay in their homes an average of 7 years. So, which is a better deal, the house or the wedding? Is one day worth 2555 days? In today's world where budgets are more important than ever, how about spending less on the wedding and more on the house?
OK, I know, it's "that special day" and all that. I'm not cynical. My first marriage was a blow-out and the cost went WAY beyond that $25K. When I think back on it all, I don't regret the fun everyone had but I think the money could have been spent better. My second marriage (and definitely my last) cost about $5K. It was held at a high-end resort overlooking the ocean. We had music, a beautful ceremony, flowers, etc but we cut the guest list from 150+ to only 10 - including me and the bride (immediate family only). The reception was held there as well. It was very memorable and not as exhausting as the massive wedding.
I guess my point is that couples considering getting married might consider that all the money spent on one day isn't worth the home and life you could get if that money were spent on a house. Just a thought.
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Bryan Robertson, Broker Associate | T: 650.799.9951 | Email: bryan@serenogroup.com | Website: http://www.BryanRobertsonHomes.com |CA License: 01191946 | Sereno Group - Los Altos branch | 369 S. San Antonio Road | Los Altos, CA 94022
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