(Closed) We won a half price wedding reception! But it's not the venue we want :(

posted 4 years ago in Emotional
  • poll: Would you take the wedding reception prize?
    Yes! You'd be a nutter to turn it down : (174 votes)
    87 %
    No pay full price for the day you really want : (25 votes)
    13 %
  • Post # 16
    Member
    374 posts
    Helper bee
    • Wedding: March 2014

    Aah OP you’d be mad not to take it!! With all the money you’re saving you could do it up SO nicely and still save loads of money.

    Mine and DH’s original venue fell through (country house hotel, very chic, whole place to ourselves for the wedding) and we had to book a fairly last minute venue which was a hotel with a ballroom, not exclusive use, less ‘vintagey’ HOWEVER we decorated it to our taste, bought lovely flowers in, the venue did lovely candelabra and tea light centrepieces, we bought extra drinks for everyone, and in all honesty….I think it was better than what we would have had at our original venue! 

    Please don’t get too hung up on the venue, you can do amazing things with decoration and with all the money saved you can really treat your guests! I guarantee you will regret not  taking advantage of this if you turn it down!!

    Post # 17
    Member
    9570 posts
    Buzzing Beekeeper
    • Wedding: July 2016

    If you don’t want it at that price, then you don’t want it at that price.  Turn it down.  

    Every decision has a price–there is some price diffrential that would make you decide to switch to the other venue.  If this isn’t it for you, then it just isn’t, and your utility maximizing decision is to go with the venue of your dreams for the higher price.

    The only thing I’d say in the other direction is.. if you can take the price difference and use it to decorate your second choice to the point you prefer it (or use it towards other things like florals, dress, etc.. to the point you prefer that wedding) then do that.  

    Post # 18
    Member
    105 posts
    Blushing bee
    • Wedding: May 2016

    DrCrazyCat:  Is it transferrable? Can you give (sell) it to someone else?

    Post # 19
    Member
    1234 posts
    Bumble bee
    • Wedding: September 2011

    spideringspider:  Selling it to someone else, even at a bit of a loss (so even if she had to sell it for 6k instead of 7k) would be the best of both worlds, but I feel like prizes usually aren’t transferrable. I hope they are for OP though.

    Post # 20
    Member
    212 posts
    Helper bee
    • Wedding: June 2016

    I agree with PP, if you are able to save the full $7000 and put it on your student loans then just try to change your vision of your wedding. It is just one day and as long as your fiancé shows up, and  the people who you love and care about are there; that’s all that matters.

    Post # 22
    Member
    2942 posts
    Sugar bee
    • Wedding: May 2014

    The only thing I would watch out for is taxes biting you in the next year.  You will probably have to pay taxes on your prize, which is going to be about 30-50% depending on your tax braket.  Also, don’t let your budget creep if you take the other venue.  Decorating it is great, but if you spend $5000 on decorations, and you are stuck paying $2000 of prize tax, your savings disappeared. 

    A lot of people turn down prizes because they don’t want to be stuck with the taxes.

    Post # 24
    Member
    1234 posts
    Bumble bee
    • Wedding: September 2011

      DrCrazyCat:  Look at what Misswhowedding:  said! I didn’t know that and I would discuss it with someone financially savvy. Such a relevant point!

    Post # 26
    Member
    395 posts
    Helper bee
    • Wedding: March 2016

    DrCrazyCat:  It comes with the space and food and drinks for your guests? I would take it if there weren’t some huge catch. I think you are very blessed since you have the student loan debt. You can go with a vintage theme and decorate the venue accordingly. You can always have an anniversay celebration at the venue of your dreams later, if you chose to.

    Post # 27
    Member
    2178 posts
    Buzzing bee
    • Wedding: May 2013

    I would just be really careful that it was actually a deal… seems with adding all the additional people, adding extra food, etc that its going to end up costing about the same. I would rather do what I wanted (even if it was smaller) than get cornered into a bigger but not ideal wedding just cause it might save some money

    my thought it to really go through the entire prize package and have it all written up exactly what it will cost down to the taxes and tip and then decide.

    Post # 28
    Member
    1461 posts
    Bumble bee
    • Wedding: August 2015

    DrCrazyCat:  I totally understand where you are coming from style wise. We also won a prize package that included a lot of great things but not exactly what we (I ) envisioned. I wanted mismatched dresses fir the BMs, but the prize package included dresses but they had to be the same. Our wedding turnes out better then i couldve imagine, and it wasnt because of the BMs dresses or the venue.  I think you should take the prize!! Decorate it to reflect your style and it will turn out fantastic.

    Post # 29
    Member
    4231 posts
    Honey bee
    • Wedding: September 2015 - Hotel Ballroom

    Take the venue, and decorate it in the style you want. That is just a little too tempting to pass up!

    Post # 30
    Member
    376 posts
    Helper bee
    • Wedding: May 2014

    Wait so is it a 7k savings from what you estimate the cost of your smaller venue would be or is it just valued at 7k by the venue you won it at?

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