Re: Buying a house & paying for a wedding at the same time

I would buy the house.

You can always scale 'down' your wedding budget accordingly. I am working on a 'tiny' budget in comparison to the average budget. We are still having a traditional wedding. We just eliminated some 'uncessary' expenses (in our opinions) and getting deals on everything.

We already have a house (but are paying a mortgage) and we are paying for the wedding ourselves.

Re: Buying a house & paying for a wedding at the same time

We bought our house in November. My FH's mom, who he was living with, moved down to Fla., so we figured, instead of throwing money away towards rent, let's look for a house! We ended up with a beautiful Town House, which we ARE IN LOVE WITH. I can't imagine it any other way. We wanted to get in before the interest rates went up, and before the prices of these Town Houses went up (which they already have... about 30,000 more than we paid!). It's kind of tough, but we are managing so far! (knock on wood!).

We are putting about 20,000 into our wedding. Some of it is going on credit cards, which we pay off each month and can pay the rest off with our tax returns and $$ from the wedding. It's kind of backwards, but it seems to be working out!

I will tell you... I couldn't imagine getting married at the same time as buying the house. It's nice to know that everything is set up already. Each is too much in its own to be able to do at the same time! I couldn't even THINK about the wedding while we were in the middle of buying! HTH! Good luck!

Re: Buying a house & paying for a wedding at the same time

FH and I are in the process of house hunting. We are also responsible for a large chunk on the wedding costs (thanks god to my parents we dont have to pay for all of it). But, it is feasible. While we are still looking and havent found anything yet, we hope to get into the house about 2-3 months before the wedding. We don't plan on making any major renovations to the house until after the wedding. It is VERY overwhelming! But, I think it is possible.

Re: Buying a house & paying for a wedding at the same time

it is possible, but requires lots of careful planning and budgeting. i closed on my house about 6 weeks after i got engaged. it was very stressful in the beginning, but it's starting to get easier. good luck!

Re: Buying a house & paying for a wedding at the same time

not to be negative, but if you're not getting married for a year and a half and are going to buy a house now, be very careful that everything is in both of your names. as much as we hate to think it, people break engagements all the time. it's one thing to separate a few items that belong to you, but a house is another story. make sure you protect yourself. i've seen so many ladies on LIW break engagements who never thought it would happen.

also, FH and i are paying for our wedding AND are in the process of buying a house. it can be done but only you know your financial situation.

Re: Buying a house & paying for a wedding at the same time

FH & I purchased our home in August & we are also paying for the entire wedding ourselves. Luckily we have had enough time prior to purchasing the house to save all the $$ needed for our wedding. Remember, when purchasing a house, there are tons of 'extra' expenses that pop up! If you don't have the $$$ to fall back on, I would wait as long as possible to find a house!

I would not change what we did, but we were able to still save even after we had purchased the home! Some vendors will not allow you to pay by credit card. I know most that I have dealt with, will allow a deposit on the credit card but that is all. Everything at the end needs to be cash or certified check!

Re: Buying a house & paying for a wedding at the same time

We are!!! IT's hard as hell, but then it can only get easier right???
We are paying for MOST of the wedding and are in full contract on a house.

Re: Buying a house & paying for a wedding at the same time

FH & I just bought a house in October and we are also paying for our wedding. It is very hard, however I would not change anything! Before we bought the house I wanted the biggest wedding with the horse and carriage and MANY, MANY, extras, however now that we have the house, it is all not as important to me. I still want all that stuff, but if it is between making a mortgage payment or getting something extra for the wedding, I would chose the mortgage. Our wedding is still costing us a lot of money, however I cut costs wherever I could. I am making a lot of things, instead of having someone make it for us. Like I said before, it is extremely hard, however it can be done!!! If I had the choice again, I would definitely chose getting the house and sticking to a strict budget for the wedding.

And I know they keep saying that the houses are going to come down, but FH & I were looking for a house for the past 2 years before we found our home, and they did not come down once. As a matter a fact, we would see a house and then 2 or 3 months later look online for houses again, and see the same house, only more money. I felt like telling the owner, if you did not sell the house at your first asking price, what makes you think it is going to see for more money?

Good Luck with whatever you decide to do! It is a big decision that you and FH really need to think about! FM me if you have any questions!

Re: Buying a house & paying for a wedding at the same time

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Posted by I-can't-wait!!!!!!

FH & I just bought a house in October and we are also paying for our wedding. It is very hard, however I would not change anything! Before we bought the house I wanted the biggest wedding with the horse and carriage and MANY, MANY, extras, however now that we have the house, it is all not as important to me. I still want all that stuff, but if it is between making a mortgage payment or getting something extra for the wedding, I would chose the mortgage. Our wedding is still costing us a lot of money, however I cut costs wherever I could. I am making a lot of things, instead of having someone make it for us. Like I said before, it is extremely hard, however it can be done!!! If I had the choice again, I would definitely chose getting the house and sticking to a strict budget for the wedding.

And I know they keep saying that the houses are going to come down, but FH & I were looking for a house for the past 2 years before we found our home, and they did not come down once. As a matter a fact, we would see a house and then 2 or 3 months later look online for houses again, and see the same house, only more money. I felt like telling the owner, if you did not sell the house at your first asking price, what makes you think it is going to see for more money?

Good Luck with whatever you decide to do! It is a big decision that you and FH really need to think about! FM me if you have any questions!

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I agree. The house is more important. You can still have your day and it can be great.

Best way to save is to know what is really important and a priority for your wedding.

Ways to save:
- Shop around for best deal on wedding gowns (trunk shows, etc.). ie don't shop at the most expensive shop
- Invitations
- flowers (type of flowers you pick)
- day of your wedding (weekend, time of year, etc.)
- Shop around for HM. ie some exotic islands are more expensive than others
- Borrow as much as you can on things you may not want to keep (slip for dress, etc.)
- Photographers (do you really want that huge portrait of you hanging on the wall). If not, get smaller photos for less. We opted not to because we know if we have kids we would be taken ours off the wall and replace it soon with theirs.

Be open minded.... and look for alternatives. The more flexible you are the best deal you will have. Of course, you still have to like it. AND do not forget to negociate everything. You will be surprised to see how some vendors are willing to discount if you ask. The only risk you have is that they say no. BUT what if they say yes.

Re: Buying a house & paying for a wedding at the same time

House prices are and have been coming down. My FH and I were going to buy a house before the wedding but, when we looked at our monthly expenses, it was going to be really tight. He already owns a condo in Myrtle Beach so he has a mortgage on top of the rent we are paying. We're going to wait until after the wedding now to buy something.

ETA: It's hard to predict the real estate market.

Re: Buying a house & paying for a wedding at the same time

We just bought a house in december...we are paying for some things for the wedding (my parents are helping us out too) but it is possible!
A place to live is pretty important, so def get going on that!

I don't know how i managed buying a house and planning the wedding, its def stressful!
But the end product is worth everything...I'm a home owner and thats a wonderful feeling!

Good Luck

Re: Buying a house & paying for a wedding at the same time

we bought our house in august and we are getting married in october. we arent paying for our wedding though, my parents are paying. We had an amazing mortgage broker though, he got us a better deal than anyone else we talked to. He even helped us get our house cheaper than we were going to pay. Kinda complicated story. He also does real estate. He got our approval in 2 days and our completed mortage in 2 weeks, and out credi was not the best. Not bad but not great either .He was really great. FM for more info!

Re: Buying a house & paying for a wedding at the same time

when the priced go down, the rates go up. Its all relative

Re: Buying a house & paying for a wedding at the same time

You can always have a smaller wedding due to the fact you want to buy a house. You can also use credit cards toward the end of the wedding to pay for the little stuff but make sure you are going to have to money to pay off everything.
We are in a bit of a unique situation on my end, my FI wants me to stop working and go back to school full time, we are also moving into my childhood home and will be helping my dad out with the morgage (he's putting an apartmen on the house for us). I'm still worried though.
You guy are very brave for trying to do everything at once, it's definately the best way to 'invest' the cash wedding gitfs you will get...buying a house.

Re: Buying a house & paying for a wedding at the same time

I've been thinking about it for a couple of weeks now and I brought it up to FH last night and he's more nervous about real estate then I am - because I'm already in it. I own my own coop apartment in Queens now, so I would sell that and then would have the cash that I make as a profit. FH and I said we would sit down and talk about it more but I'm just scared to wait because the Long Island real estate is going up and up.

I appreciate all your input on this and thanks for your advice and recommendations.

Re: Buying a house & paying for a wedding at the same time

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Posted by chellynyc

I've been thinking about it for a couple of weeks now and I brought it up to FH last night and he's more nervous about real estate then I am - because I'm already in it. I own my own coop apartment in Queens now, so I would sell that and then would have the cash that I make as a profit. FH and I said we would sit down and talk about it more but I'm just scared to wait because the Long Island real estate is going up and up.

I appreciate all your input on this and thanks for your advice and recommendations.

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We are in the same situation as you. FH owns his co-op in Queens and plan to use the profit from that as a down payment for a house. We've been watching the market pretty closely and it seems like it has stabilized for the time being, but who knows what the future holds. Personally, we are waiting to buy until after the wedding. But honestly, it's hard waiting. I really wish we could buy a house now.

Re: Buying a house & paying for a wedding at the same time

If you can afford to and need to move, go for it!
If you need to save up for a year or so, theres nothing wrong with that either!

Be comfortable, dont cause extra stress between you if your just not ready.