Wedding Bells or House Keys? Navigating Wedding Costs vs. Down Payments in Calgary

Let’s dive into something many Calgary couples are wrestling with: do you go all out on your dream wedding, or do you put that money toward a down payment on your first home? With weddings in Canada averaging $27,000 to $30,000, it’s a big decision.

In Calgary, where the average down payment ranges between $30,000 and $40,000, the choice gets even trickier. It’s easy to get caught up in the excitement of planning a big day, but with the local real estate market, that same amount could be the key to your first home. Imagine kicking off your marriage in a place that’s truly yours.

Here’s the thing—many couples spend more on their weddings than they originally planned. According to The Knot, couples often exceed their budget by nearly $11,000, pushing the wedding cost close to what you’d need for a down payment in Calgary.

Even if the down payment seems just out of reach, there are still smart ways to enter the market. Consider looking at condos or starter homes in Calgary’s up-and-coming neighborhoods. These options can be more affordable and still offer the chance to invest in your future.

Ultimately, whether you choose to prioritize a wedding or a home is personal. But if you’re leaning toward homeownership, it might be worth scaling back on wedding costs to make that down payment happen. You could even ask guests to contribute to your down payment fund instead of traditional gifts.

Thinking about buying or selling a home in Calgary? Let’s chat and figure out the best move for you and your partner.

Content for this article was curated from Zoocasa.