In an era where housing prices are skyrocketing and financial burdens are growing heavier, many newlyweds are ditching the traditional wedding gift registries and turning to a new, more practical request: help with buying a home. While the idea of cash funds for weddings has been around for some time, more couples are now focusing those funds specifically toward homeownership, hoping to start their married life with the stability of a house they can call their own.
According to a study by wedding resource websites like The Knot and Zillow Home Loans, there has been a significant shift in this direction. In fact, there has been a 55% increase in couples adding a “home fund” to their wedding registry since 2018. This trend reflects the broader economic struggles faced by many young Americans today — student loan debt, high inflation, and rising home prices have made it difficult for many to save for a down payment on a house.
For many, this approach offers an opportunity to make a real investment in their future. After all, what could be more meaningful than contributing to a young couple’s American Dream of homeownership? Allison Cullman, Vice President of Brand Marketing and Strategy at Zola, told *The New York Times* that couples are seeing this as a profound way to kickstart their journey together. “The whole idea of giving a wedding gift is to invest and celebrate someone’s future together as a couple, and I don’t think there’s any more profound way to do that than contributing to the new home that they would share together,” Cullman explained. The taboo around asking for money, once frowned upon, is quickly fading in light of the current economic climate.
While the funds couples collect through their wedding registry may not cover an entire down payment, it certainly gives them a head start. In many cases, every dollar counts when it comes to securing a home, especially when interest rates are unpredictable, and the housing market remains competitive. Amanda Pendleton, personal finance expert at Zillow Home Loans, pointed out that between 2018 and 2022, first-time buyers were at least twice as likely to report using gift funds to help with a down payment. In 2023, 43% of buyers reported receiving some help from friends and family.
This new trend taps into the reality that many couples, particularly in today’s challenging economy, are more interested in setting up their lives long-term than accumulating material possessions. As Cullman noted, “People are more inclined to give a gift to something specific where they’ll be able to see the outcome of it versus when it feels like an abyss.”
Of course, the housing market continues to pose challenges. With mortgage rates rising, many homeowners are holding onto their homes to avoid losing their lower, locked-in rates. This has limited the availability of homes on the market, making it even more difficult for first-time buyers to find affordable options. But with the support of friends and family, many couples are hoping to bridge that gap and take their first step into homeownership.
As the tradition of wedding gift-giving evolves, it’s clear that many couples are prioritizing the practical over the frivolous — and in doing so, they may just be reclaiming a piece of the American Dream. For those looking to contribute to a newlywed couple’s future, helping them achieve the milestone of owning a home is perhaps the ultimate investment in their happiness and stability.
