(Closed) Choices: House v. Wedding– waiting longer?

posted 9 years ago in Waiting
Post # 3
Member
273 posts
Helper bee
  • Wedding: August 2009

Hey CorgiTales, 

I totally know what you mean.  We were also deciding between a wedding and a house… and we wanted both so badly!  We eventually decided on the wedding, as we had family members that could only come this year, not next, (2010,) and we have been together for over five years, so we just didn’t want to wait any longer!

Now, we are saving towards the house – and it’s hard, because we wish we were in that place already… so if you can, maybe have a smaller budget for the wedding and so you can be in your place sooner?

Post # 5
Member
10218 posts
Sugar Beekeeper
  • Wedding: November 2010

Hey one of my favies corgi!!! so here’s my opinion.. have the wedding in the backyard and fix it up marvelously for the wedding, plant flowers and do an arbor gazebo or even pavers in a beautiful pattern and invite everyone over and have it very casual and romantic…. (it’s what i’d do i think) i dunno anymore actually what i’d do i just am ready to have his last name so i’m darned near ready to go to the courthouse!!

Post # 6
Member
273 posts
Helper bee
  • Wedding: August 2009

Well it’s great that you’re pre-planning!  And that you know that whatever you decide, you’ll be able to do the wedding without (hopefully,) getting into debt.  Good luck! 

Post # 8
Member
273 posts
Helper bee
  • Wedding: August 2009

No, not at all, I pre-planned!  I personally think it’s the smart thing to do! πŸ™‚ 

Post # 10
Member
10218 posts
Sugar Beekeeper
  • Wedding: November 2010

@corgi:mmmm mexican sounds soo yummy and they could probably come out and cater it at your house. remember if you do it at home and do the home improvements they are a tax write off (:D) hence the suggestion, so who cares if you have the granite countertops stainless steel appliances and viking appliances, it’s all home improvements!!! sigh i cannot wait until i see you and belle’s rings to be honest with you!!! it’ll be almost like i’m there (kwim?!) i mean i teared up reading waitingbee’s post today about how he’s got the ring, that’s so freaking exciting!! it’s also that time of the month so i’m going nuts too!! lol!

Post # 12
Member
730 posts
Busy bee
  • Wedding: June 2010

Yeah…we’re going with the wedding over a house. BUT…we are looking for a new apartment that we really like and can hopefully stay in for a while happily (I HATE moving as well!).

But, I really really really like Mexican food. So I say go for it! Wedding vows and fajitas, what could be better? πŸ™‚

Post # 13
Member
10218 posts
Sugar Beekeeper
  • Wedding: November 2010

i believe when you do home improvements to the house you can write them off (hence the pavers flower planting gazebos, etc) up to a certain percentage.  I tease M all the time and say our wedding will be a huge tax write off because i’m using it for promotional photos for my business and all the things i can do, florals, invites, paper products, complete design etc. now i am sure the dress, etc may not be able to be written off, but it also may be able to because i’m promoting my event and even the coordinator will be one of my associates there so i can write off what i pay her as well.. (i’m alll about making it work okay lol)

scroll down to see the tax benefits of home improvements:

http://www.homeimprovementsdepot.com/home-improvement-tax-deductions/

http://ezinearticles.com/?Claiming-a-Home-Improvement-Tax-Deduction&id=448038

Post # 15
Member
10218 posts
Sugar Beekeeper
  • Wedding: November 2010

πŸ˜€ yeppers!! my ex and i owned a house and all of the home improvements were tax write offs (basically if you improve the value of a house it’s a write off, but if you are just making a repair it’s not) so if you give the backyard a total overhaul with a romantic koi pond or any pond and have twinkling lights strewn romantic… here are some inspiration pictures πŸ˜€

sigh can i come here and vacay?!

Post # 16
Member
295 posts
Helper bee
  • Wedding: June 2010

Just to clarify on the tax issue (since we did the house first and consequently have gotten intimately familiar with all of this!)—the improvements are only federal deductions in very specific situations (currently, when they are needed for medical reasons or, through the stimulus, as a tax credit when they increase energy efficiency in certain areas). Some states may have separate programs that include other types of improvements, but generally the only other scenario in which they have tax implications are at the point when you sell your home, when you can count home improvements (but not repairs) as “value added” to what you bought the house for, and start calculating capital gains from a baseline of cost of house + cost of improvements. But right now, at least, the tax-free capital gains are so high—you can make a profit $500K over what you paid on a house before you start paying tax on it—that it’s not likely to be a factor for most people these days. (That could change, of course, so it’s still worth keeping receipts and records of any improvements over the years!)

That said, if you pay for the improvements through a home equity loan or refinance, there are tax deductions related to that, so you might get a writeoff indirectly that way.

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