More Young Couples Commit – to Homeownership Before Marriage

Today’s young couples are more likely to buy homes together before tying the knot, according to new findings from Coldwell Banker. Nearly one-quarter (24 percent) of polled married couples between the ages of 18 and 34 said that they purchased a home together before they were married. That is much higher than the rate for married couples aged 45 and up, only 14 percent of whom said they bought a house together before their nuptials. The trend is particularly prevalent in the Northeast, where just 60 percent of couples waited until marriage to purchase a home. Dr. Robi Ludwig, a psychotherapist affiliated with Coldwell Banker, describes a home purchase as “the new engagement ring” for some young couples. “Some even forego lavish weddings and honeymoons in order to cover the down payment and a chunk of the mortgage,” Ludwig notes. “They know that they have an opportunity here, with low mortgage rates and low housing prices. And they think, ‘We’re moving toward marriage anyway, so let’s buy.’ It makes sense.” Coldwell Banker will release the survey on April 22. | Read More