Modern newlyweds wish they’d registered for a down payment MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

Today’s newly married couples wish they’d forgone traditional wedding registries in favor of financial contributions towards the purchase of a home, according to a survey from Realtor.com® and Censuswide. Of survey respondents who made a wedding registry in the past two years, eighty five percent said they would have preferred to receive money they could have used towards a down payment, mortgage payment or other associated homebuying costs. Despite this admission, eight two percent said they felt obligated to go the traditional route, registering for home furnishings and dishware, etc. Another eighty eight percent said they registered for gifts they really didn’t want, while a smaller thirty five percent said they planned on returning the gifts they received to use for money.

This goes both ways, though: the same respondents also said they’ve felt obligated to bring a traditional gift as a wedding guest, with seventy percent saying they’d prefer to do so over financial contributions. However, survey responses also indicated that the times are changing when it comes to wedding gifts. Over seventy percent of responders who created a registry in the past two years included an option for guests to contribute financially towards a large gift, like a honeymoon or a down payment. Stigma around this practice still exists though, with twenty two percent saying they would have liked to include this option on their registry but didn’t for one reason or another.

“Over the past few years, homebuyers have been facing a number of challenges, most notably around affordability due to high home prices and mortgage rates,” said Clare Trapasso, executive news editor for Realtor.com®. “We’re seeing buying get creative with how they cobble together the necessary financials, from tapping into down-payment assistance programs to asking for help from family and friends.” “Adding a homebuying gift option to a wedding registry is a great way for people to crowd-source these often hard-to-come-by funds,” Trapasso added. “It allows their loved ones to celebrate one of the biggest moments of their lives while helping them to achieve homeownership.”

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