Out of the Box Bridal Registry Thinking! Newlyweds Want Dream Home!

By
Real Estate Agent with REMAX Specialists Minnesota License#90858

Bride and Groom Dreaming of house
Why can't a bride and groom take that little bar code scanner from Target or Macy's and scan a photo of a new home instead? I know couples need the department store stuff like blenders, coffee makers and blankets but they often want and need a first home too!  

What if brides and grooms could  browse the internet listings on any real estate website or drop by a neighborhood open house and use a special "dream home scanner" to click on a favorite home. Then they could receive the keys to their dream home just in time to be carried over the threshold. THAT, my friends, would be a fairy tale ending or beginning; a really start to happily ever after.

It may sound off the wall but newlyweds are going to face a tougher time finding a loan without a down payment.  Zero down loans have all but disappeared from the landscape and first time buyers will need cash in their pockets to put toward a new home. As mortgage programs continue to change and evolve, it has become imperative to save for that down payment. Forward thinking young people might want to divert some of their wedding funds and gifts into an investment in real estate.

In this changed real estate market, new home buyers NEED a down payment for a house. Not just a few bucks either. In most cases a buyer will require a minimum of 3-5% to put down. Minnesota starter homes run about $150,000 in the north and east Twin Cities metro. So,  newlyweds today will need to save up a minimum of $5,000-$10,000, plus closing costs before making a first home purchase.

All is not lost for first time buyers, but a little forward thinking is in order. There is a l
ot of money involved in most weddings; both on the party planning and the gift recipient side. A savvy bride and groom might be able to devise a plan to have the perfect wedding AND a dream home.

New Home Gift Registry Young couples getting married register for gifts to let their friends and family know exactly what they want and need. If you need a house, why not let your guests know? How about adding a note to the invitation stating your gift preference?


“The couple is registered for a small number of necessities at Target and Macys. If you would prefer not to shop, they are also saving for a down payment for a new home and would a appreciate monetary gift toward their dream.”

I don’t know what
Miss Manner’s would say about but I think a financial wiz like Suze Orman would applaud the idea.

Wedding Budget With the average wedding pushing $20,000, maybe a little rearranging of the budget could be a way to find some funds. Those saved dollars from the perfect wedding can go toward that dream home instead. Now, I am not suggesting going the bargain basement route on anything and everything, just economize where it makes sense. Maybe you can go opt for less fancy invitations or choose a less expensive dress. Maybe that cruise to the Caymans would be a better choice for a future anniversary and a honeymoon in Duluth, MN creating newlywed memories along the north shore of Lake Superior would be be a budget friendly change. Whether on wedding details, reception or the honeymoon, saving 25% of an average wedding bill would be $5000 cash toward a new home.


So young couples start planning your future with a plan for your dream home too! While the current technology does not allow a scanner to work outside of a department store, I do! Adjust the budget to come up with the down payment and I can assist you with finding your dream home.


As a professional REALTOR®, I have helped many young couples find their first home.. I know the north and east Twin Cities metro area and can help you spot a dream home deal whether you are looking in Lino Lakes, Blaine, Andover or anywhere in the Forest Lake school district. I can assist you in writing a fair offer and negotiate a deal so your dream can become a reality. And (more budget friendly advice here)....Having your OWN agent doesn't cost you any additional fees--The seller pays my commission! Working with an agent to find your first home, takes the stress out of the home buying process so you can focus on making your wedding day special rather than moving in details too.

Posted by

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Theresa "Teri" Eckholm, a call or visit my website for a FREE Relocation Packet or FREE Homebuyers Success Packet.   I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

 

Buying a Home? Check out my HOME BUYER'S BLOG!

Copyright 2014 Teri Eckholm http://www.terieckholm.com/

 

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Topic:
Real Estate General Information
Location:
Minnesota Anoka County Ham Lake
Groups:
Internet Empowered Consumer
Realtors®
Posts to Localism
Minnesota Real Estate
BananaTude
Tags:
newlywed first home
mn realtor for first time buyer
house downpayment wedding gift
first time homebuyer
bridal registry

Comments 16 New Comment

Ambassador
1,423,971
Karen Kruschka
- "My Experience Isn't Expensive - It's PRICELESS"
RE/MAX Real Estate Connections

Teri  It is not "off thr wall" - it is a fantastic idea.  Congrats on the feature

April 19, 2012 03:06 PM
Ambassador
790,409
Bob Crane
Forestland Experts! 715-204-9663
Woodland Management Service

Great suggestion Teri, much better than the overpriced crap that people get at weddings and really don't need.

April 19, 2012 03:57 PM
Ambassador
1,200,789
Erica Ramus
MRE, Schuylkill County PA Real Estate
Erica Ramus - Ramus Realty Group - Pottsville, PA

Interesting thought! Create a fund for the newlywed's new home purchase.

April 19, 2012 05:04 PM
Rainer
276,566
Steven Cook
- Pierce, King, Kitsap, Thurston, Mason Counties

Teri -- great idea to get the couple thinking along the proper lines.  With regard to seasoning -- if they put the money into an account, and then have only regular deposits for the two months of statements they need to provide to the lender, they will be seasoned enough.

Part of the problem in our society, is that the kids want to start off with what mom and dad spent years building up to -- also known as "instant gratification".  If your note helps some practice some "delayed gratification" they will find themselves much better off in the future.  

BTW -- we were one of the "vendors" at a recent "Wedding Expo" - to get our name out before those thinking of getting married.

April 20, 2012 11:16 AM
Rainmaker
770,483
Paula McDonald
RE/MAX The Woodlands, TX 936-203-0279
Chevaux Group, PLLC

Fortunately for the wedding business but not for our business a Bride often thinks that her wedding day is the "most important day of her life".   Since she is only doing this once......it's gonna be memorable!  

Unfortunately that fabulous wedding that lasted 6 hours or so could have gone toward a nice down payment on their first house together. 

April 21, 2012 10:14 AM
Rainmaker
596,955

Teri Eckholm

Acreage & Lakeshore REALTOR Minneapolis St Paul
Looking to buy or sell in the Twin Cities? Contact Me Today!
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Additional Information

Theresa "Teri" Eckholm/REMAX Specialists assists Minnesotans to find their way home with helpful tips and quality service. Dedication to customer service has made Teri the REALTOR® of choice for families in Blaine, Forest Lake, Ham Lake, Lino Lakes and Wyoming areas. Licensed in MN.


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