2023-10-24 22:21:31
Unable to afford a home due to high prices, two engaged couples asked family and friends for a down payment as a wedding gift.
Paige Mankin, 28, and Corey Moss, 32, will get married in January and will combine business with pleasure. Not having access to the property due to the prices being too high for their income, the couple is hoping to have help from loved ones to get the money for the down payment, according to CBS News.
Although not actively looking at the moment, the couple has already received a donation of $118. The future bride and groom plan to put their donations in a savings account so that they grow until they are ready, they told the American media.
Although this request for a gift seems quite unusual, it is increasingly common among future brides and grooms. That’s according to a report published by real estate listing site Zillow and wedding planning site The Knot. The latter indicated that, since 2018, the number of couples requesting donations for the purchase of a house via its wedding gift list has increased by 55%.
“It’s wonderful that couples feel empowered to personalize their registry to suit their goals, especially when they’re getting married together. While guests prefer to give cash gifts […]milestone gifts are a deeply thoughtful and meaningful way,” The Knot Deputy Editor Esther Lee said in a statement.
Thus, financing for the purchase of a house is the second most requested gift via the wedding registries on the site The Knot, just after financing the honeymoon.
“Amid rising interest rates and historic highs for down payments, this special marriage contribution helps newlyweds reach another important life milestone: homeownership,” he said. she adds.
According to Zillow Home Loans personal finance expert Amanda Pendleton, couples using this technique to access homeownership tend to be younger. Although they are young, “they still aspire to achieve the age-old American dream of homeownership,” she said.
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