Forget Wedding Gifts — Many Brides and Grooms Are Now Asking Guests to Contribute to Home-Buying Funds Instead

Nearly 20% of couples registered on The Knot are asking for assistance with a down payment.

The days of gifting a toaster or silverware set to newlyweds may soon be gone!

Instead, more brides and grooms are asking wedding guests to help them buy a home with down payment contributions as a part of their wedding registry, according to analysis from Zillow Home Loans and The Knot.

Since 2018, the number of couples who have listed "home funds" on their registry has jumped 55%, with 20% of couples registered on The Knot asking for assistance with their down payments, according to a release from Zillow.

Esther Lee, deputy editor of The Knot, said that home funds made up "one of the most popular wedding registry cash funds" on the site last year.

"Amid rising interest rates and historic highs for down payments, this particular wedding contribution helps newlyweds reach another meaningful life milestone: homeownership," she said.

According to the analysis, the rise comes as many as half of homebuyers are now shopping for their first home. It takes an estimated 12 years to save up for a downpayment — a number that was just 9 years before the pandemic. Zillow also notes that the typical monthly mortgage payment has doubled in that timeframe.

Between 2018 and 2022, "first-time buyers were at least twice as likely to report putting gift funds toward their down payment," per the release, with 43% of them reporting in 2023 that they were using gift funds from loved ones toward the purchase.

"Young couples may be eschewing convention when it comes to their weddings, but they still aspire to achieve the age-old American dream of homeownership," Amanda Pendleton of Zillow Home Loans said. "That dream, however, can feel out of reach without the right support. For couples who choose to add down payment funds to their registry, it's important that they also work with a qualified loan officer to understand what they can afford and what loan options fit their situation."

 "First-time buyers often think a 20% down payment is required, but that's not always the case. Some may qualify for a down payment as low as 3%, which will change their savings timeline and monthly payment dramatically."

"While guests prefer to give cash gifts for celebratory treats, like a sunset honeymoon dinner, milestone gifting is a profoundly thoughtful and significant trend we're seeing among couples planning on The Knot."