Post # 32
we seriously considered a small, intimate destination wedding. we wanted to avoid the costs of a large, lavish wedding so we could purchase a house first BUT this day means more to me personally so a house can wait!
Post # 33
Congrats on your future plans. I would have done the same thing. Definitely a home over a wedding.
Post # 34
We are paying for the wedding in cash and will be accumulating zero debt from it.
We are planning to use any cash gifts towards a house down payment.
BUT if I absolutely had to choose, I’d probably choose a house and a super casual, inexpensive wedding.
Post # 35
I vote house, hands down. In 30 years, you’ll have happy memories of your wedding day no matter whether its large or small. You could also own a home/property outright which would ease the amount of money you’ll need for retirement, or could be used to pay for a portion of your children’s college educations.
Post # 36
Im actually in this exact situation. We actually started out with a $20,000 budget for our wedding. But during the planning process we were presented with the opportunity to be first time homeowners and we absolutely could not pass up the opportunity. We’ve wanted to be homeowners for years so when we realized our dream could come true sooner than later we were ecstatic. Being homeowners and building wealth for our future and our childrens future was so much more important than having a lavish event that will be over in a matter of hours. We close on our new house on Monday!! Our new wedding budget is $6000!! Its a good thing we are quite nontrafitional/unconventional because we only want an intimate ceremony and cocktail reception with 50 guests. We are also getting married on a Thursday night so we are going to be able to save a ton of money by taking advantage of the fact that we arent doing things the traditional way.
The most important part of your wedding day should be the ceremony. Sharing your lifelong commitment with the person you love is what really matters, not the extra stuff. Im so happy that we get to have our wedding cake and eat it too, in our new dining room!!
Post # 37
I’m really glad you posted this. I’ve read a lot of responses and am gonna rethink my wedding plans in order to keep most of our money towards a house. We already have kids but we need more space now and my conscious has been killing me about spending all this money on something that is not necessarily important. I don’t want to feel selfish. Where I live things are pretty cheap but I think the most important things I want out of a wedding are making it a religious ceremony, having professional photography, and having an intimate dinner/cake. We can dance and have a good time any other day. Although, we’d also like a weekend vacation from the kids : )
Post # 38
We are currently renting, and plan on buying a house a few months after the wedding. Granted, our down payment would’ve been much bigger if I had planned for a smaller wedding, but, in my mind, this is my one chance to celebrate with my family and my friends. We can buy a house next year, or the year after, but we can’t get this moment in our lives back to focus on the celebration of a union.
Post # 39
Absolutely yes on the house.
BUT keep in mind that you don’t have to totally foresake a wedding – just the luxurious/dream part of it! You can elope, or have a lovely morning ceremony followed by cake and champagne for WAY less than 10k. If you split the difference, and decided to put 2k towards the wedding, and the remaining 8k towards the house, you might be a whole lot closer. Add to that no registry, and instead requests for help towards the downpayment and while you never expect to break even, you might not be in terrible shape… You can have a beautiful anniversary/vow renewal in a few years! The house is definitely more important!
Post # 40
I voted no b/c we got our house and lived in it for 8 years before getting married. The house was our initial priority and our sense of the most financially responsible place to put our money, but we didn’t skip the wedding either. In the end, we had a much more expensive wedding than I would have 8 years earlier b/c over that time we built more financial security.
Post # 41
@KendraJ: We were facing the same decision also. In the end, we decided to have our “big” wedding instead of buying a house faster because we think we’d potentially regret not having that experience, but I think its an entirely personal decision and you guys should decide what’s going to be best for you. You can always buy a house first, then have a bigger or smaller wedding – same result, just a different order 🙂
It ended up being a good decision for us because not only are we having our “big” wedding, but some financial opportunities have blossomed for us recently and now we are looking for a house too! I’ve been searching regularly, but unless we find something that we can’t pass up, I think we’re going to try and wait a while to buy since the housing market is continuing to decline and more properties will be coming available. I just hope that it works out well time-wise with our apartment lease!
Post # 42
I would MUCH rather have the house than the wedding.
Fi and me are having a wedding budgeted at 6-8K. But we also just bought a brand new house which we are building, and we are 22 and 23.
wedding = one day
smaller downpayment = more mortgage which is more interest (which is gazzzzzilions of dollars in the long run)
Post # 43
Pkus ir is really hard to save money for down payments when you have tons of other bills and expenses to pay. And renting SUCKS. Me and Fiance aren’t doing it, it is SUCCCCCCH a waste of money that you will never get back.
You can’t stand this condo, so jump on the house market now (while its going good) and start saving your equity.
As much as a wedding is dreamy and magical, a house is way more economical and practical (and lasts longer)
Post # 44
We’re having a $3500 max, backyard wedding because we want to have some sort of wedding, but a house and kids are a higher priority to us