Buying a house & paying for a wedding at the same time
Original post by chellynyc
FH and I are paying for our wedding ourselves and plan on using the money we get as gifts from our wedding as a down payment on a house. I was just thinking, if we wait two years from now, houses are more then likely going to go up.
Is it smarter to buy a house now and continue to pay cash for the wedding? Worst case scenario as it gets closer to the wedding if we don't have enough cash for the remainder of the wedding then we do credit cards and pay them off after the wedding.
Is it possible to buy a house and pay for a wedding at the same time?
tracy2246
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Re: Buying a house & paying for a wedding at the same time
we are getting married in Nov and we close on out house in a few weeks....it is actually very scary but I think we can do it.
CynthiaandJeff
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Re: Buying a house & paying for a wedding at the same time
We're paying for everything on our own and buying a house at the same time.
I owned before I met Fh, so I had lots of money invested in that. The price of my place had tripled, so we got lucky. It's not easy and house hunting REALLY stinks!!
imyurfavgirl
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We are buying our house and paying for all of the wedding. If it wasnt for my fh i dont think that it would be possible. It is very stressful though all we talk about is the house or the wedding.
Angel2006
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Re: Buying a house & paying for a wedding at the same time
I would buy the hosue and scale down on the wedding budget as well. Just think the wedding is one day and a house you will own maybe for a lifetime.
m&m
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We bought a house in July, and got married in December. But we had a long engagement, and that was the plan all along so we budgeted along the way. Good luck
Shellycakes123
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Tia you have FM from me. Goog luck girl!
Reesa
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Re: Buying a house & paying for a wedding at the same time
We closed on our house Sept. 30, 2005 and were married November 13, 2005. It was nuts!!!!! But I'm glad we did it.
Blu-ize
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Re: Buying a house & paying for a wedding at the same time
While I commend those that are able to pay for a wedding and buy a house-it has to be one of the most stressful times in your life overall.
You may be putting unnecessary pressure on yourselves.
Also keep in mind that if you put balances on your credit cards your debt to income ratios will be worse and that could keep you from getting a mortgage at a decent rate.
Do you have a place to live now?
Also, personally I would not buy something until I was married.
MrsMagoo
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Re: Buying a house & paying for a wedding at the same time
Posted by chellynyc
FH and I are paying for our wedding ourselves and plan on using the money we get as gifts from our wedding as a down payment on a house. I was just thinking, if we wait two years from now, houses are more then likely going to go up.
Is it smarter to buy a house now and continue to pay cash for the wedding? Worst case scenario as it gets closer to the wedding if we don't have enough cash for the remainder of the wedding then we do credit cards and pay them off after the wedding.
Is it possible to buy a house and pay for a wedding at the same time?
We are doing it!! We plan on buying the house either by the end of this year or beginning of next year...and we are paying for the wedding ourselves! It just takes a lot of determination!
DanNette
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Re: Buying a house & paying for a wedding at the same time
Hi! I feel your pain! Only, FH and I are aiming for a co-op, we figure it will be easier to start small. I wouldn't count on the gift money so much, you really have no way of predicting how much you will receive. Also, you and I have almost 2yrs to handle all of our payments. See if your vendors can make more frequent deposits throughout your planning instead of putting $100.00 down then having to come up with $12,000.00 in the end for something.
chellynyc
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Re: Buying a house & paying for a wedding at the same time
Posted by Blu-ize
While I commend those that are able to pay for a wedding and buy a house-it has to be one of the most stressful times in your life overall.
You may be putting unnecessary pressure on yourselves.
Also keep in mind that if you put balances on your credit cards your debt to income ratios will be worse and that could keep you from getting a mortgage at a decent rate.
Do you have a place to live now?
Also, personally I would not buy something until I was married.
FH lives at home with his parents and I own a coop apartment in Rego Park, Queens. So, we're not homeless by any means.
mrsgtobe
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Re: Buying a house & paying for a wedding at the same time
We bought our home in September and are making mortgage payments at the same time that we are planning (and paying for!) our wedding. It's definitely not easy, but if you do some budgeting beforehand and the math tells you that you can handle it financially, then do it. If you're going to put yourself into debt up to your eyeballs, then you may want to wait a little while.
