Survey: Young Adults Putting Mortgages Before Marriages
MINNEAPOLIS (WCCO) – Is a home the new engagement ring? A new national survey shows more and more young couples are putting mortgages before wedding bands these days.
The new Coldwell Banker survey shows nearly a quarter of married couples between the ages of 18 and 34 purchased a home before getting married.
Matt Williamson and Olivia Wee of Minneapolis are in that boat, having closed on their first home a few weeks ago, even though their wedding isn’t until August.
Psychologists say shopping for homes forces young couples to tackle issues they should deal with before getting married, such as how to cope with major disappointments.
Wee said they’ve already started making the Nokomis-area home their own.
“We’ve been knocking out this wall and buying a few things here or there to kind of get it ready and then I’ll move in after our wedding,” she said.
The survey shows most couples who purchase a home before getting married end up moving in together.