(Closed) Wedding AND Buying a House??

posted 8 years ago in Home
  • poll: Buy the House?

    Buy!

    Keep renting until after the wedding

    Inevitable Other!

  • Post # 32
    Member
    68 posts
    Worker bee
    • Wedding: May 2012

    We’re doing this in Boston currently. Its a little crazy emotions wise, but the pacing for home buying and wedding are different. Wedding is fast and furious at the beginning and then has a coasting period, with crazy again right before the event. Home buying is a lot of “lets go look at this place” every weekend or other weekend, and then very scheduled moments of busy. 

    Its doable. Its not completely insane. 

     

    Post # 33
    Member
    2733 posts
    Sugar bee
    • Wedding: August 2012

    We bought a loft 7 months before getting married! It wasn’t part of the plan but we just jumped on an amazing opportunity. So happy!!! We will keep our wedding low budget though, as planned. 

    Post # 34
    Member
    99 posts
    Worker bee
    • Wedding: November 2012

    I hope everything works out for you!!

    We faced the same choice, and will (fingers crossed) close at the end of next month on our first place! It’s been an emotional nightmare, but I actually think it has given us perspective in terms of spending money for the wedding. When faced with hmmm … save another 1k for the downpayment or get a photo booth, uhhh, well, yeah haha.

    Stressful, but completely worth it for these low interest rates!!

    Post # 35
    Member
    413 posts
    Helper bee
    • Wedding: April 2012

    Do it!  I bought a house with my now-husband 3 months before our wedding!  We definitely weren’t planning on buying a house before we were married, but it worked out perfectly for us.  The home-buying process was a rather smooth one for us and really didn’t cause any added stress.  Wedding planning was way more stressful than home buying for us!  Good luck in whatever you decide!

    Post # 36
    Member
    2085 posts
    Buzzing bee
    • Wedding: June 2012 - Pippin Hill Farm & Vineyards

    Is this your first home purchase? I was stressed over my first purchase…I can’t imagine lumping that together with wedding planning. I would wait.

    Post # 37
    Member
    2104 posts
    Buzzing bee
    • Wedding: September 2012

    If I can finish a master’s, buy a house, get married, and do a honeymoon tour of all of western Europe all in 4 months…. you can find a house in 10 months. However, I disagree with everyone saying that this is a buyer’s market. DC/MD/VA was a true buyer’s market back in November. Also, there’s nothing wrong with taking a break from looking to get married and then returning to the hunt if you don’t find anything by the wedding. 

    Post # 38
    Member
    871 posts
    Busy bee
    • Wedding: October 2012

    Were getting married then finishing the final few rooms of our house we both spent a year renovating. I learnt how to frame, gyprock, paint, caulk and clean lots. It is stressful buying a home. It is stressful planning a wedding. It’s insane doing both!

    Post # 39
    Member
    886 posts
    Busy bee
    • Wedding: November 1999

    I have a friend who works for the FDIC. She basically told me to hold off on buying until 2013 because she thinks prices are going to go down even more. And around the DC area, any little bit would help. It’s definitely not a buyer’s market here.

    Post # 40
    Member
    1853 posts
    Buzzing bee
    • Wedding: December 2013

    Like PP’s said, if you can afford it, then it is a good investment. Fiance and I postponed our wedding until 2013 to get a condo, and it sucked…but now I’m happy with the choice we made.

    Post # 42
    Member
    92 posts
    Worker bee
    • Wedding: September 2012

    This may not be for you, but we are “eloping” with 20 of our closest family and friends for 5 grand.  Buying a house and then having a huge backyard reception in our new home to celebrate everything!

    Its a great market to buy and you will be saving money from renting that can go right back into a wedding account!

    Post # 43
    Member
    2104 posts
    Buzzing bee
    • Wedding: September 2012

    View original reply
    @pfinarffle:  Again, in the dc metro area there is a shortage of inventory. Our appraisal calculated that our neighborhood has a 4 month supply. The area at large has a 6-8 month supply of houses.

    The excess inventories are foreclosures moving at an obscenely slow pace. Talk to any agent and they’ll tell you that, if the market is flooded with inventory, the housing market will improve. I don’t know where that one author gets off saying the market will drop 20% lower, but no one should buy unless they’re planning on staying a minimum of 5 years, more realistically 10 years. 

    Post # 44
    Member
    7309 posts
    Busy Beekeeper
    • Wedding: October 2011 - Bed & Breakfast

    I agree with BB. The DC metro market is it’s own special beast. In our county inventory has dropped 11% over last year AND sales are up 31%. While there are foreclosures to be had, there is not a glut of them, and they tend to be in such poor shape that only investors have the cash to invest in them. So when it comes to the housing market for regular buyers, foreclosures are a minor player in the game. And while, in general, there are a lot of foreclosures being held back by Fannie Mae and Freddie Mac, I don’t see them being brought to market en masse anytime soon. That would be political suicide for the President and Democratic Party. They are being deliberately held back and will only be allowed to carefully trickle onto the market. And since banks have to maintain their full eagle in order to stay in the mortgage lending business, they, too, will be carefully managing their foreclosure volume. Do I expect prices to fall a bit more? Yes, we probably have another 5-8% to adjust. But as long as someone is buying a home with a 10 year or more plan, it’s not a bad time to buy.

    Post # 45
    Member
    383 posts
    Helper bee
    • Wedding: August 2012

    I say buy!! It seems like you guys have all your ducks lined up! So go for it! Just becareful because the house buying process CAN be quite stressful so that mixed with wedding planning stress can be a lot for some people. It was a stuggle for me but we adapted and now we are on the other side !

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