Which is the better financial decision (House vs. Wedding)

[colleyvillesooner]

A friend is getting married and she has some savings. Not sure how much, but she is debating whether to:

A) Spend her savings on a down payment for a house ($175,000 - $225,000), and save for the wedding (Next Spring/Summer) and probably charge some of the wedding at the time of the ceremony. EDIT: I guess techincally she wouldn't have to charge any of the wedding, just would eat into the down payment of the house.

or

B) Spend the savings she has for the wedding beginning now (dress, deposits etc) and finance the house 100%.

Which is the way to go? I understand this isn't all the information needed, but should be enough just to get a ballpark guess as to the general better option. I get tired head when thinking about terms like "PMI" and "Tax deductions"

TIA

[crawfish]

Take the house!

[KABOOKIE]

How about

C) Finance the house 100%. Get married in her blue jeans at the court house. (odds are she'll be dicorved in 5 years anyway). Spend the money on powerball tickets.

[yermom]

yeah, well sadly no one ever chooses C ;)

[Viking Kitten]

House, dude. It's an investment that will likely grow in value. Financing any part of wedding is sheer stupidity.

[sooneron]

This is a question that needs to be answered?

[colleyvillesooner]

I guess techincally she wouldn't have to charge any of the wedding, just would eat into the down payment of the house.

My guess was the house, but I wanted to ask more people.

[PhxSooner]

How much is she thinking the wedding will cost?

[colleyvillesooner]

This is a question that needs to be answered?

Some of us weren't born knowing everything. ;)

[NormanPride]

Financing a wedding seems like a bad idea, honestly... Living beyond your means = bad juju.

[Viking Kitten]

Buy the house and get married in Vegas. (I should mention that I personally think big weddings are an idiotic waste of money even if you have the cash to pay for it.)

[colleyvillesooner]

I don't think it will be a huge, huge wedding. It was just a question in passing that i figured I would ask the wise people here. I'm hoping they respond soon. ;)

[PhxSooner]

Buy the house, save up after for the wedding and keep that within a reasonable price range. With more $$ for a down payment, you can get a nicer house or a lower payment (or both), which gives you more equity for later...etc. Using the savings for a wedding seems short-sighted.

[soonerbrat]

House, dude. It's an investment that will likely grow in value. Financing any part of wedding is sheer stupidity.

Agreed.

Take a small portion of the savings and go to the bahamas or jamaica to get married. They plan the whole wedding for you

[Hamhock]

weddings are stupid.

that is all

[colleyvillesooner]

So the House was the right decision and will have SF.com backing. Thanks.

Mods, lock her down. :D

[Viking Kitten]

It's just a question I don't understand yet we hear it all the time... should you put money toward something that will provide shelter and most likely increase your net worth, or pay for big party which will net you some presents you'll most likely be selling at a garage sale in five years? It just makes no sense.

[Viking Kitten]

HA HA! IBTL!

[Sooner Born Sooner Bred]

I'm getting married on a beach when I get hitched. Anyone who wants to be there can consider it a vacation.

[colleyvillesooner]

I'm sure there alot of things each of us do that others think are very stupid. I know I do lots of them. :D

I'll stop down and watch Bill and Ted's Excellent adventure until a commercial break If I catch it on. Every. Time. :D

Thanks for everyones thoughts/inputs/opinions. I'll let them know they were headed the right way with their decision.

[Viking Kitten]

No, tell them like this: "Do what VK says or you're a big, fat stupid idiot."

I find bullying is usually the best approach when offering advice to friends. ;)

[critical_phil]

How much is she thinking the wedding will cost?


$250 at the Chapel of Elvis.


that includes the Elvis impersonator and Moon Pies.


ywia.

[PhxSooner]

$250 at the Chapel of Elvis.


that includes the Elvis impersonator and Moon Pies.


ywia.
You can never go wrong with Moon Pies.

[TheHumanAlphabet]

House, weddings are overrated.

[Viking Kitten]

$250 at the Chapel of Elvis.


that includes the Elvis impersonator and Moon Pies.


ywia.

Unfortunately, the combined downstairs/upstairs bachelor/bachelorette party at the Olympic Garden costs extra.

[usmc-sooner]

invest the money in a boob job.

[oumartin]

if you were truly a good friend you would offer to pay for her wedding!

[yermom]

VK, do you have a sister?

[Viking Kitten]

Just the one I ate in utero. Sorry.

[colleyvillesooner]

gross.

[crawfish]

Take the house!

I'm sorry. I thought it was an either/or question.

Didn't realize the wife came with the house. :O

[Okla-homey]

The Bridal and Funeral Industrial Complexes are a pox on western civilization.

They induce expenses by persons at moments of extreme vulnerability to pay for manufactured "needs" created by evile marketing genuii.

[Viking Kitten]

gross.

Hey, you try walking around with an extra set of teeth embedded in your frontal lobe.

[colleyvillesooner]

out.

[sooneron]

The Bridal and Funeral Industrial Complexes are a pox on western civilization.

They induce expenses by persons at moments of extreme vulnerability to pay for manufactured "needs" created by evile marketing genuii.
OUr wedding was exorbitant by most standards , but it was all about the want. We don't regret it in the least.- We didn't finance a nickel-(at least everything was paid off the balance immediately so we could get the miles). Everyone has their idea of fun. Some people's idea comes with a heftier price tag.

Plus, up here in the NY area- everyone is all about giving nice cash presents. We got 1/3 back of what we doled out.

[OCUDad]

Just the one I ate in utero. Sorry.Is "in utero" Latin for "yesterday"?

[Okla-homey]

OUr wedding was exorbitant by most standards , but it was all about the want. We don't regret it in the least.- We didn't finance a nickel-(at least everything was paid off the balance immediately so we could get the miles). Everyone has their idea of fun. Some people's idea comes with a heftier price tag.

Plus, up here in the NY area- everyone is all about giving nice cash presents. We got 1/3 back of what we doled out.

My Peep,

There is no question you absolutely have every right to spend whatever you please on a wedding. My point is, marketing types have made such exorbitant and extravagant nuptials into an important rite of passage. It is a peculiarly American turn-of-this-century phenomenon and is a 100% Madison Avenue creation.

Further, and as a related aside, the funeralistas have made us feel like crap if we don't bury Aunt Margaret in a triple insulated, titaninum lined casket complete with innerspring mattress, hypo-allergenic pillow and duvet, all tucked into a concrete underground vault.

Frankly, I'm unconvinced there is even any public health indication to embalm people who are going to be buried within the week if the room they're on display in is reasonably cool, let alone if they are to be cremated.

I say, let people buy caskets at Wal-Mart or Lowes and cut the dang "funeral director" TF out of it.

[MamaMia]

How much does she have? Is it not possible to have a quaint little wedding and spend the rest on the house? :confused:

[reevie]

Count me as another buy the house vote but don't finance the wedding. You can do weddings cheap.

[sooneron]

My Peep,

There is no question you absolutely have every right to spend whatever you please on a wedding. My point is, marketing types have made such exorbitant and extravagant nuptials into an important rite of passage. It is a peculiarly American turn-of-this-century phenomenon and is a 100% Madison Avenue creation.

Further, and as a related aside, the funeralistas have made us feel like crap if we don't bury Aunt Margaret in a triple insulated, titaninum lined casket complete with innerspring mattress, hypo-allergenic pillow and duvet, all tucked into a concrete underground vault.

Frankly, I'm unconvinced there is even any public health indication to embalm people who are going to be buried within the week if the room they're on display in is reasonably cool, let alone if they are to be cremated.

I say, let people buy caskets at Wal-Mart or Lowes and cut the dang "funeral director" TF out of it.
Oh, I know, I work Madison Ave. I think too many people look at it the way that people look at BarMitzvahs or Sweet 16's - "so and so got 50 cent to play, who is playing at my insert event name here?"

Too much keeping up with the Joneses again these days.
The only desire to top another's wedding for me, was a buddy of mine's wedding where they ran out of beer an hour into the reception and my Mom had to leave to go get something to eat! It was an evening wedding! Don't invite 300 people and not expect to feed them at 7PM!
As far as the funeral goes- toss me in the oven when I'm expired.

[soonerboomer93]

Yeah, but that keeping up with the Jonses is pressed by madison avenue

30 million reality tv shows on, on TLC, MTV, Home and Garden, showing fancy homes, fancy wedding et al.

[soonerbrat]

My Peep,

There is no question you absolutely have every right to spend whatever you please on a wedding. My point is, marketing types have made such exorbitant and extravagant nuptials into an important rite of passage. It is a peculiarly American turn-of-this-century phenomenon and is a 100% Madison Avenue creation.

Further, and as a related aside, the funeralistas have made us feel like crap if we don't bury Aunt Margaret in a triple insulated, titaninum lined casket complete with innerspring mattress, hypo-allergenic pillow and duvet, all tucked into a concrete underground vault.

Frankly, I'm unconvinced there is even any public health indication to embalm people who are going to be buried within the week if the room they're on display in is reasonably cool, let alone if they are to be cremated.

I say, let people buy caskets at Wal-Mart or Lowes and cut the dang "funeral director" TF out of it.


http://www.pbs.org/pov/pov2004/afamilyundertaking/resources_03.html

[sooneron]

Yeah, but that keeping up with the Jonses is pressed by madison avenue

30 million reality tv shows on, on TLC, MTV, Home and Garden, showing fancy homes, fancy wedding et al.
Everything you just listed is regarding tv shows- stuff that people can turn off. Madison ave just buys the time for the commercials.

[Viking Kitten]

Yeah, but that keeping up with the Jonses is pressed by madison avenue

30 million reality tv shows on, on TLC, MTV, Home and Garden, showing fancy homes, fancy wedding et al.

Putting money into your house is a completely different story. You are at minimum contributing to you daily quality of life and at best increasing your home's value. That's a worthwhile way to spend money, IMO. A wedding is money down the tubes.

[soonerboomer93]

Yes and no. There are a ton of things you can get for the home that will improve it's value and your life. But there's also a lot of stuff that's just expensive money.

My uncle remodels and does various contract work on homes. He put a $300,000 dollar painting in a waterproof built in wall frame in someones house simply because they wanted it mounted in the bathroom above the jacuzzi. There's also a big trend towards outdoor kitchens, and while many people will use them every day/every weekend, others might only use them 2 or 3 times a year. They only have them because bob has them and not because they get any real use out of the money they spent on it.

[goingoneight]

You know, Vegas has those drive-thru wedding chapels where you can tie the knot pretty cheap. And if you don't consumate the marriage between windows, you can get it annulled for free. ;)

[skycat]

You know what's a waste of money?

Stuff I don't like.

[soonersweetie]

Buy the house and get married in Vegas. (I should mention that I personally think big weddings are an idiotic waste of money even if you have the cash to pay for it.)


what she said :)

[TUSooner]

This is a question that needs to be answered?
I'm afraid it looks that way, so...

SPEND IT ALL ON THE HOUSE !!


My wedding cost about zilch and the marriage has lasted 29 years. And we don't even have the paid-for house that they'd have.
Weddings are WAAAAAY OVERRATED; houses not so much.

[colleyvillesooner]

We'll see how WAAAAYYY overated weddings are when one of your daughters starts twirling you around her pinky finger. :D

[TUSooner]

We'll see how WAAAAYYY overated weddings are when one of your daughters starts twirling you around her pinky finger. :D
Well, my oldest one knows she has my permisison to elope, but she says she just wants a "classy and simple" wedding nonetheless. I've tried to convince her that I make 23 cents an hour and can't afford anything.

[colleyvillesooner]

Well, my oldest one knows she has my permisison to elope, but she says she just wants a "classy and simple" wedding nonetheless. I've tried to convince her that I make 23 cents an hour and can't afford anything.

Good idea. :D

[BU BEAR]

Buy the house and get married in Vegas. (I should mention that I personally think big weddings are an idiotic waste of money even if you have the cash to pay for it.)


We have a winner!!!!