Cash For Down Payments Is the Trendy New Wedding Gift
With interest rates rising and the median mortgage payment jumping from $1,284 to $1,839 in the past year, The Financial Times reports some newly engaged couples are finding a solution: Requesting cash to be used for a down payment on a home as their wedding gift.
Wedding planning website Zola found that 75% of users who set up a registry through the site ask for cash as gifts, and more couples are requesting funds specifically to purchase their first home.
“We’ve seen the number of housing-related funds, for example, double just since 2019,” Emily Forrest, Zola director of communications, told FOX TV.
Other popular wedding gifts this year include Airbnb or airlines gift cards, which couples can put toward their honeymoon or other travel experiences. Another trend is couples who may be more financially stable asking for charitable donations to causes like the ASPCA or Climate Action, Fox6now.com reported.
Traditional registry items are also still very popular with couples along with items like multi-functional serveware and espresso machines.
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