There are several reasons to ask your invited wedding guests for a monetary gift toward your future home rather than “nice” dishware. Couples getting married this wedding season are a bit older – 27 and 29 for women and men respectively – and are understandably more excited for a home of their own than new throw pillows. And let’s be honest, if you’re living in an 800 square foot apartment or your parents’ house, where would you put all those wedding gifts anyway?
While thousands of wedding registries are created each year through Target, Pottery Barn, Nordstrom and the like, you may still be asking, “Is it rude to ask for money rather than gifts?” The simple answer: no. Here’s why:
- There are websites specifically designed to help your wedding guests contribute to your down payment (so don’t feel like you’re putting a jar out on the cake table asking for spare change).
- Your guests are going to spend a particular amount of money on your gift(s), so why not put that cash toward something you really want?
- Great way to involve your friends and family in one of the most import ant purchases you’ll make as a married couple
While some of the websites designed to help you raise the money for your down payment make their money by taking a small percentage of the couple’s total money raised, the websites also offer benefits you will need when it comes to getting approved for your home loan. When applying for a home loan, you’ll need to verify that your down payment is yours, free and clear, and not the result of another loan. Most down payment crowdfunding sites will document the nature of the monetary gift for you to give to the bank. Check out HatchMyHouse.com and DownPaymentDreams.com.
If you’re still feeling a little uneasy about asking for money rather than a fancy vase or artwork, keep this in mind: in addition to the traditional thank you notes you’ll send to your guests, you can also send property updates as you go through the home buying process to allow your family and friends to feel a part of the purchase.
Don’t be shy! Wedding registries of any kind are no more than a list of gift ideas for guests who are already planning to buy a present. Your registry for a down payment is no different—it’s just a suggestion, and your guests still have the option of buying you some spectacular sheets.
