08/17/2009
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I can't decide what to do!

With the economy in the situation it is in now, it makes a great opportunity for first time home owners to buy a home (that is if you still have a job)...we have a friend in the industry who told us we only need 3.5% down on a FHA loan now and our credit would be accepted (they're approving scores as low as 620-640!!) so we could get a $200,000-300,000 starter home here and be paying $1,700-2,000/mo including taxes which is about what we pay in rent each month...anyway the 3.5% down is about $7,000-10,000 which is about how much we were going to spend on the wedding...so we're really contemplating just buying a house for now and just going to the courthouse for now and throw a reception later after tax season...We're so anxious to buy a house because we already have a baby and right now seems so perfect to buy! To top off my restless mind we just thought about a destination wedding...his family has timeshares all over and we could totally do a DW in Puerta Vallarta, Mexico for a fraction of what we'd pay here and actually get to go on a honeymoon too!! If we did that we know that we couldn't bring the 150 guests we plan on having if we have a wedding here so we're considering having a second wedding when we'd get back...his mom has a friend who is a planner/caterer and she was being pushy about having connections to get married in an enormous house for $400!! AHHHHHHHHHHH!!! I don't know what to do...this is starting to get so overwhelming!! What would you ladies do? Buy the house and postpone the wedding? Or just do a DW and buy the house? Or get married with the wedding I've already started planning and roll the dice that the housing market will still be this good for buying 1-2 years from now...?
house, destination wedding, confused, real estate
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neuweg03's Black wedding
neuweg03
 |  Anonymous proxy  |  08/17/2009  | 
I say do the house! Save for the wedding...if your happy with each other then it shouldn't matter to wait. This day in age you almost have to do the economical decision and I think a house is more important than a piece of "paper".

Good luck and congrats if you find a house!!!
bakerbride's Black wedding
bakerbride
 |  Bakersfield, CA, USA  |  08/17/2009  | 
I agree the house!!!  Makes me wish I could start all over and make some different choices!!!  Best of luck on whatever you do!
kristah's Green wedding
kristah
 |  Langley, BC, Canada  |  08/17/2009  | 
I'd say buy the house and do a small intimate wedding, and throw the big bash later on.
10oct2010's Pink wedding
10oct2010
 |  Beijing, Parvan, China  |  08/17/2009  | 
Yes...If I were you,  I'll get the house first and postpone my wedding,  but I'll keep put aside some money to prepare for the wedding.

Good luck !!!
westkar's Blue wedding
westkar
 |  Germany  |  08/18/2009  | 
I have to agree with the other girls.  I would buy the house and post pone the wedding. Right now it's a buyers market, but who knows what will happen 6 months from now.

Good luck with your decision
nevaeh's Black wedding
nevaeh
 |  Brick, NJ, USA  |  08/18/2009  | 
Stop thinking about the wedding and think House, House, House! The time to buy is NOW! Don't miss it.  And just think because you'll be buying at a time when the market is low when you're ready to "upgrade" or relocate you'll catch a nice price for your house and have little to no mortgage on the new one! Buy low...sell high!
sarahdarling's Black wedding
sarahdarling
 |  Toronto, ON, Canada  |  08/18/2009  | 
i definitely agree to buy the house!!! i wish i was in your position, but the city we live in is rediculous for housing prices. you are one of the lucky few who might be able to benefit from this recession, so you really should jump on the opportunity. if you won't be spending much more than you do now in rent AND you have a baby who would love a backyard ;) then you really gotta get the house and postpone the wedding a bit, or just do a small one. a house will increase financially in value over time, unfortunately your dress, flowers and invitation will not. good luck and keep us posted!
mandiv322's Pink wedding
mandiv322
 |  Tuscola, IL, USA  |  08/18/2009  | 
Me and Fh were in the same predicament and we went ahead and bought the house first.  The wedding will still be there whenever you decide to do it but the house option may not depending on the economy.  So I would say go for it!
mizzsips's Black wedding
mizzsips
 |  Rancho santa margarita, CA, USA  |  08/18/2009  | 
Thanks girls I'll keep you posted FH and I talked and we're going to postpone the wedding for now...our lease is up in March so if we could buy something by then that'd be perfect! We're still considering a DW instead though so we could do both :-) I think that'd be pretty neat...just our closest family some where in the world we've never been...can't believe we didn't consider this sooner...I still want to have a reception after the house for everyone else that can't come to the DW...
futuremrsdennis's Blue wedding
futuremrsdennis
 |  Indianapolis, IN, USA  |  08/19/2009  | 
I think that you should get the house, because it is something that you will be able to have pass one day, cause that is what the wedding is. THen you can either down scale the wedding or push the date back. After being on this site you will see how you can do a wedding for $5k or less or a little bit over. I have faith in you as WBC brides we have to. LOL
mizzsips's Black wedding
mizzsips
 |  Rancho santa margarita, CA, USA  |  08/19/2009  | 
yeah i was really nervous telling my mom that we're considering not having a big wedding anymore or pushing the date back because she's the one who was pressuring us to get married so fast (as well as my FMIL) but when I told her today she was really supportive...so now we're looking into a destination wedding or will push the date back and have the wedding i've already started planning...can't decide yet...but for sure the house first I'm excited :-)
babygirlnaenae's Black wedding
babygirlnaenae
 |  Taylorsville, KY, USA  |  12/23/2009  | 
Hey! I'm glad you chose to go with the house... My fiance and I are in escrow right now... and with the tax credit...8000.. to first time buyers, that allowed us to replenish most of our down payment, so we can still continue with the wedding!!!  We ended up buying brand new from a builider... which meant we had to pay closing costs :( that was a bumber, BUT they paid half! so it cut down our wedding budget a little... but we can still pull it off! Congrats and good luck on your search :)
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