Buy Now, Get Married Later

Harvard University’s Joint Center for Housing Studies reports that while two-adult households continues to be the norm among homebuyers, the composition of those households is somewhat different than in years past. While the percentage of married couples is dropping, this is offset almost entirely by a rise in unmarried couples, same-sex partners, and even pairs of roommates.

Many unmarried couples are choosing to buy first, get married later as they use the often exorbitant expense of a big wedding towards a down payment on a home. With the average price of a wedding and honeymoon reaching $35,000, many couples are choosing to postpone the nuptials in favor of a first mortgage.

Still, the old axiom is still true (somewhat): Married people buy homes, single people rent. More the 66 percent of married couples still own their homes compared to roughly 40 percent of non-married households.

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