RETHINK the Bridal Registry! RE-Direct Funds to a First Home Instead!

When I was married we didn't have a fun barcode readers to capture and share our favorite towels, toasters and china patterns but they seem to make life simple for today's bride and groom. But wouldn't it be awesome to point that thing beyond the department store wares and head out to the nearest neighborhood of cozy bungalows and tag something that a the happy couple also needs, their first home? Imagine engaged couples browsing the internet listings on realtor.com or dropping by an open house and using a scanner to click the QR-type code on their favorite new home so the front door key could be handed over as the bride is carried over the threshold. AWESOME idea, right?

It is an off-the-wall idea but couples getting married this year may have a tough time finding first time buyer financing. Zero down loans have all but disappeared from the landscape and first time buyers need cash in their pockets to put toward a new home. As mortgage programs continue to change and evolve, it is essential to save for that down payment. A forward thinking young couple might want to divert some of their wedding funds and gifts into an investment in a new home, in which they can begin their lives together.

 Buyers wanting to purchase this spring will NEED a down payment for a house. Not just a few bucks either. In most cases a buyer will require a minimum of 3-5% to put down. With an average Minnesota starter home in the $175,000 price range, today's brides and grooms will need to save at least $5,000-$10,000, plus closing costs.

All is not lost for first time buyers, but a little forward thinking is in order. There is a lot of money involved in most weddings; both on the party planning and the gift recipient side. A savvy bride and groom might be able to figure away to have the perfect wedding AND a dream home.

New Home Gift Registry Young couples getting married register for gifts to let their friends and family know exactly what they want and need. If you need a house, why not let your guests know? Maybe the insert in the wedding invitation should read:
“The couple is registered for a small number of necessities at Target, JC Penneys and Macys. If you would prefer not to shop, they are also saving for a down payment for a new home and would a appreciate monetary gift toward their dream.”
I don’t know what Miss Manner’s would say about but I think a financial wiz like Suze Orman would applaud the idea.

Wedding Budget With the average dream wedding going for over $20,000, maybe a little arranging of the budget is in order. Those saved dollars from the dream wedding can go toward that dream home instead. Now, I am not suggesting "cheaping out" on anything or everything. But it would be prudent to take a look at where you can economize on your budget. Maybe you can go fore go the fancy invitations or select a less expensive dress. Is it possible the honeymoon trip to Hawaii would be a better choice for your fifth anniversary and a road trip to Duluth, MN to create newlywed memories along the north shore of Lake Superior could be considered instead? Whether on wedding details, reception or the honeymoon, if just 25% could be saved on the average wedding, approximately $5000 cash that could go toward your dream home.

So brides and grooms start thinking about your future lives together and create a plan for your dream home. Though those scanners will not work outside of the department stores, I do! As a professional REALTOR® , I have helped many young couples find the first home of their dreams. I know the north and east Twin Cities housing market and can help you spot a deal whether want a dream home in Maplewood, Forest Lake or Blaine. I will assist you in writing a fair offer and negotiate a deal so your dream can become a reality. And having your OWN agent doesn't cost you any additional fees--The seller pays my commission! Working with an agent to find your first home, takes the stress out of the home buying process so you can focus on making your wedding day special rather than moving in details too.