Tie the knot or buy some bricks? Which would you choose?
You grow up, get married, buy a house and have 2.4 children. At least that’s how things used to work. These days an increasing number of young (and indeed not so young) couples are having to make a choice between their dream wedding day and their dream of owning their own home.
Statistics show that…
• Average UK wedding now costs £20,983 (You and Your Wedding)
• 47% of women and 48% of men aged 20 will never marry (The Marriage Foundation)
• Average UK first time buyer needs income of £41k, while average wage is £22k (KPMG)
Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España comments,
“A wedding in the Spanish sunshine is a lovely idea and can be cheaper than getting married in the UK, but many couples are still having to chose between that and using their cash as a deposit. The reality is that pragmatism has to come before romance in many households these days. For couples in Spain, the ING survey showed that 70% would rather spend their money on a house than on their wedding day – higher than the European average of 60% and the UK average of 67%.”
The €18,000 cost of a Spanish wedding would serve well as a deposit on a seafront apartment at a development like La Recoleta III, on the Costa Blanca, or perhaps an exciting renovation project with two houses and land in neighbouring Portugal.