Down Payment vs. Wedding: The Millennial Problem

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Getting married and buying a home are two of the most important milestones in millennials’ lives. With the average cost of a wedding pegged at $31,000 according to The Knot, many millennials are not in a financial position throw their dream wedding and to purchase their dream home.

Inman News covered this phenomenon in a recent piece titled “3 ways to help millennial homebuyers who are getting married” which offers real estate professionals some tips for making the home buying process as easy as possible for those millennials who are choosing to embark on the homeownership journey while simultaneously planning their big day.

But choosing between the two may not be as much of a challenge as you think, according to ERA’s 2014 survey, which found 89 percent of couples who responded felt their bond was strengthened by purchasing a home together.

Would you choose a down payment or an engagement ring?  Let us know on Facebook or Twitter!

Image from ThinkStock.

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ERA Real Estate is an innovative franchising leader in the residential real estate industry with more than 40 years of experience in developing consumer-oriented products and services. The ERA network includes approximately 36,000 brokers and sales associates and approximately 2,350 offices throughout the United States and 33 countries and territories. Each office is independently owned and operated. ERA Real Estate is a subsidiary of Realogy Holdings Corp. (NYSE:RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.