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.
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.