Human Interest
Here’s Where It’s Cheaper To Buy A House Than Have A Wedding And The Verdict On Charlotte
Some people dream of getting married. Others dream of buying a house. A large number want both. But, it turns out that's a tough ask. Many have to decide...mortgage or marriage North Carolina? Which is more doable in the Tar Heel State. It's a shame that these days something as simple as getting married and buying a home are increasingly out of reach for many hard working couples. But, getting married and having a wedding are two different things now aren't they? The simple act of saying, "I do" is really not expensive. It's the party associated with it that ramps up the price tag. So, let's see which is more doable for the Tar Heel State as we look at a recent study...mortgage or marriage North Carolina? Which will it be? According to Zoocasa, places across the U.S. have different outcomes when you do the math. Mortgage Or Marriage The Average Costs Of Both And, wedding experts estimated the average cost of weddings last year at right around $35,000. Plus, the costs keep rising each year by the thousands. The National Association of Realtors puts the median single family home price at slightly above $420,000. So, the Zoocasa study crunched the numbers across 80 cities using this data and estimating the cities' housing costs taking into account an 8% down payment for first time home buyers. And, here's how it all stacks up including Charlotte, North Carolina. The study estimates in 47 of 80 cities analyzed, the down payment on a home was lower than the average cost of a wedding. So...that's sort of good news for home ownership, I guess. More than half? But it's still not great. Mortgage Or Marriage North Carolina And The Numbers In Charlotte So, when it comes to mortgage or marriage North Carolina...here's how it stacks up. The median single family home price is $423,700. That equates to a down payment of $33,896. And, the average cost of a wedding in North Carolina is $31,000. So, it can be cheaper to get married than buy a house in North Carolina. The study analyzed wedding costs in specific cities for the top 20...but used wedding costs for the state for the remaining 60, including North Carolina. So, you may not be able to get married specifically in Charlotte for that number. But, there's tons of beautiful places in the state that offer perfect places to say, "I do." In the top 5 cities on the list, home ownership is cheaper than a wedding. Those spots include New York City, Los Angeles, Chicago, Philadelphia and Dallas-Fort Worth. So, weigh your options and make compromises where you can if you really want both goals. Which will it be...mortgage or marriage North Carolina? See the whole list in the full study and congrats on working toward your dreams!