Asking for house money as a wedding gift? It’s more common than you think!

Happy wedding season to those celebrating nuptials this year. We know that’s a weird way to start a real estate blog, but there’s a reason for it. A new survey found that newlyweds often ask for help with homebuying costs as a wedding gift.

While that may have been considered a no-go in the past, thoughts are evolving, especially as costs for both monumental occasions – planning a wedding and buying a house – continue to rise. (Do you remember the Netflix show “Marriage or Mortgage” based right here in Middle Tennessee from a few years ago?)

In fact, here are some findings from the study conducted by LendingTree:

Guests shouldn’t be surprised by the ask. Almost half of the couples planning to get married and buy a house around the same time asked for money to help with a house down payment. In addition, more than half of this demographic said they had a smaller wedding in order to put more money toward their home purchase.

This kind of request shouldn’t be looked at as a breach of traditional etiquette. Instead, these couples do what they can to handle two large expenses.

“Wedding gifts used to be dinnerware, silverware, candlesticks and other things that would sit in a box or cabinet and maybe get used once a year,” he says. “Now, there’s less stigma in asking for money toward a down payment or a honeymoon. That’s good for the newlyweds, and it’s good for those giving the gift because they know their gifts won’t be stashed and collect dust.”

Getting married often delays homebuying plans. Although picking a house over a bigger wedding seems to be a popular option, 36% of newlyweds said they put less toward their down payment than they wanted because of their wedding.

For anyone out there who has or plans to use this as an avenue to help with a down payment, there are a few things to know. Couples should still get pre-approved so they know where they stand, and depending on the monetary amount given, there may be some extra hoops to jump through. One expert’s advice? Make sure the money has been in your account for two months before using it.

If you’re preparing for both of these occasions this year – or in the near future – congratulations! We know buying a home can be daunting, no matter what else you have going on. However, know that a good local real estate agent and loan officer can help guide you along the way until you’re ready to use us as your closing company.

After all, the Birthright Title team is here to make sure your closing day is remembered for all the right reasons. Start your “home sweet home” with us, and we’ll provide you with as much bliss, wedded or otherwise, as possible!