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The New Wedding Gift? Down Payment Help

  • August 15th 2023

by UrbanTurf Staff

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The hot new ask on wedding registries appears to be money to purchase a home. 

85% of couples that created a wedding registry in the last two years told Realtor.com recently that they would have preferred cash towards a down payment on a home as opposed to typical wedding gifts. 

"It makes sense that couples getting married would prefer money for a down payment, over china they will never use or a blender they don't need," Clare Trapasso, executive news editor for Realtor.com, told Reuters. "They are looking at near-record home prices, on top of mortgage rates hovering around 7%."

Relatedly, Redfin recently found that, in order to afford a "starter home" in the DC region, first-time homebuyers need to have an income of approximately $91,000, nearly 12% higher than 2022. 

See other articles related to: down payment

This article originally published at https://dc.urbanturf.com/articles/blog/the_new_wedding_gift_a_down_payment/21352.

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