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Survey Says Newlyweds Want to Buy House, Instead of Big Celebration

LOS ANGELES -- Newlyweds would rather put the bulk of their wedding budget towards buying their first home together and skipping the large ceremony, found a survey for national homebuilder KB Home here.

According to a KBHome.com poll, as the average age for marriage climbs, there is a trend of financially independent couples investing most of their wedding budget towards a new home. The survey found 24% of respondents are purchasing a home within six months of their getting married.

"As we observe National Homeownership Month, we continue to see more and more couples opting to buy a new home instead of planning the large traditional wedding," said KB Home COO Jeff Mezger. "They want the comfort and security that comes with homeownership and prefer to spend their money on their future life together rather than on one night."

Given that the average wedding cost is about $30,000, KB Home said couples consider breakdowns such as a 5% downpayment on a $300,000 home equals a typical wedding reception cost of $15,000. Also, the cost of new cabinets and kitchen countertops can easily match the cost of the music and flowers alone.

KB Home operates in California, Arizona, Nevada, New Mexico, Colorado, Illinois, Indiana, Florida, Georgia, North Carolina and South Carolina.

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