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Bigger Diamond or Down Payment?

Buying a home may soon be at the top of every bride-to-be’s wish list. That’s right—even more important than a huge rock or extravagant honeymoon.

According to a recent survey, nearly half of the female respondents said they would be willing to give up a big engagement ring, and instead use the money toward a down payment for a home. Nearly 60% said they would skip a honeymoon in favor of a down payment as well. The survey consisted of 1,000 people in committed relationships.

But what does this mean for your real estate business?

These findings suggest that homeownership is an increasingly important part of a relationship, especially among the first-time homebuyer generation who are investing in their future.

home down payment or ring

This means you may become an even bigger asset to a young couple looking to buy their first home. They will rely on you to help them build the foundation for the rest of their lives. It will also be crucial to really hone in on what’s important to them, and where their priorities are. For example, the study also found 73% of couples find location to be the easiest thing to agree on, so you may have to focus on other details, like home size, price, crime rate and possible commute times.

This information may come in handy soon—Zillow says millions of current renters across the country want to buy a home this year. 


Source:  ERA Survey Reveals How the Home-Buying Process Affects – and Strengthens – Relationships 

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