Have you noticed the wedding registries are looking a bit different these days? In the past few years some couples have asked for a "Honeymoon Fund" and now most couples are asking for a "Home Fund."
New research from Zillow Home Loans and wedding planning site The Knot revealed the following
Data from The Knot reveals:
- Nearly 20% of all couples registered on their site are asking for money to help with the down payment on their first house.
- The number of couples including “home funds” on their wedding registry is up 55% since 2018.
- “Home funds” is the second most popular wedding registry cash fund on The Knot, right behind the honeymoon fund.
According to Zillow data, most first-time home buyers put down between 10% and 19%. Zillow reports that between 2018 and 2022, first-time homebuyers were at least twice as likely to report using gift funds for their down payment and in 2023, 43% have reported using gift funds as the source of at least part of their down payment.