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Survey: Consumers Value Homeownership Over Dream Wedding

November 30, 2021

If they were faced with the choice of an expensive wedding or a down payment on a new home, single consumers overwhelmingly say they would take the home. Eighty-two percent of unmarried Americans recently surveyed said that they would rather invest in a home than pay for a big expensive wedding, according to a sentiment survey conducted by Coldwell Banker Real Estate LLC in November of more than 2,000 consumers. That includes 85% of females who aren’t married, the survey notes.

A bar chart of survey responses for the question of whether an unmarried respondent would rather pay for a home or a wedding.

Homeownership also appears to trump pricey vacations. More than three-quarters of respondents—77%—also said they’d rather invest in a home than spend money on an expensive vacation.

Homeownership is increasingly becoming a key priority for younger and older Americans. Forty-five percent of Americans aged 18 to 44 are more likely to say a home is an important financial goal for them. Forty-seven percent of respondents who are renters also say that “owning a home” is an important financial goal for them.

A bar chart of survey responses gauging varyingly aged respondents' priorities of financial goals.

 

Source: 
Fall Sentiment Survey Key Findings,” Coldwell Banker Real Estate LLC (November 2021)