Forget the China, Register for a House!
It's no secret that Millennials are shying away from owning items that were once considered household staples. Things like china sets are impractical for many couples. While once the wedding registry was a wonderful way for a new couple to fill a home with all the basics for domestic bliss, today's couples usually live together prior to getting hitched and don't always need the typical wedding registry items.
What has changed since wedding registries became popular is housing affordability. These days many young people are having a harder time saving for a down payment and are renting for longer before purchasing their first home. In 2023, the average age of a first time home buyer was 36, the all time highest age since NAR began tracking the data. Some couples have used this to their advantage when planning a wedding and started a new trend: the down payment fund.
In the past, websites like Honeyfund have become a popular way for couples to ask for travel and other experiences as wedding gifts. Wedding guests can donate the amount they feel comfortable with to go towards a honeymoon or other experience. Couples have taken this idea and applied it to a down payment for a home. Websites like Honeyfund are offering a way for people to give, or people can just give directly to the couple.
I think this is a wonderful way to give a new couple a leg up in today's world! Home ownership is one of the best ways to build wealth over a lifetime and I think it would be a great wedding gift to give! What do you think?