Newlyweds Shift from Gifts to Mortgage Help, 20% Choose House Funds
New reports confirm a significant shift in wedding registries as newlyweds increasingly opt for mortgage assistance over traditional gifts. In a striking trend, approximately 20% of wedding registries now feature house funds, according to Zillow’s latest data. This change underscores the urgent financial challenges faced by many millennials and Gen Z homebuyers navigating today’s real estate market.
As homeownership becomes increasingly unattainable, Ali and Aislyn Benjamin from Danville, California, are among those seeking creative solutions. The couple, who wed in 2022, directly asked their guests for cash contributions to help fund their first home, raising $10,000 through a combination of GoFundMe and wedding gifts.
Zillow expert Amanda Pendleton emphasizes the growing trend, stating, “Thirty-eight percent of all buyers today are receiving some form of financial support from family or friends.” The couple’s approach reflects a broader sentiment among young couples: “We would rather have wedding money spent toward a home than getting gifts,” Aislyn stated.
Despite slight dips in home prices in some areas, the national landscape remains daunting. The typical median-income family now needs to earn an additional $17,670 just to afford a typical home mortgage, with rates still hovering around 6%.
The Benjamins, both small business owners, opted for an accessory dwelling unit (ADU) on Ali’s parents’ property in San Ramon, just minutes away from Danville, where median home prices soar to around $1.8 million. Their innovative solution allowed them to build a 1,200-square-foot ADU for $500,000, a significantly more affordable option compared to traditional home purchases.
Reflecting on their decision, Ali noted, “It gave us a little bit of a head start and a buffer, allowing us to not have to save up quite as much money.” The couple’s story resonates with many young buyers struggling to make homeownership a reality amid economic uncertainty and a sluggish job market.
As this trend continues to gain traction, experts predict that more couples will follow suit, prioritizing financial support for housing over conventional wedding gifts. The urgency for change in how we view wedding registries may redefine the landscape of both marriage and homeownership for generations to come.
With young couples increasingly turning to family and friends for help, the notion of community support in achieving homeownership is becoming more vital. As the real estate market evolves, the question remains: will wedding registries become the new norm for housing funds? Stay tuned for further developments on this emerging trend.
