Why So Many Young Couples Are Choosing Property Over Marriage

With property and rental costs increasing by the week, it’s no wonder that so many young professionals are keen to get onto the property ladder as soon as they’re able. People would rather spend their hard earned income on their own assets, rather than pay towards someone else’s mortgage.

Buyers are getting younger, and savvy about the property market, making it an appealing option for those who can afford it. Those in long-term relationships automatically have the advantage of two incomes and are more likely to be accepted for a mortgage, especially if they’ve been able to save a decent deposit through flat or house sharing previously. Many are also choosing to move back in with mum and dad so that they can save quickly and invest in property sooner rather than later.

However, what impact is this all having on marriage proposals and weddings? It would seem that priorities have changed, and the traditional proposal, followed by a wedding and property investment, has switched places. There is far more likely to be a proposal of heading to the bank together to discuss mortgage rates and options than there is to walk down the aisle.

Although it doesn’t seem as romantic in the traditional sense; it’s a savvy long-term investment which is going to take even more effort, hard work, and dedication. But what is putting young people off getting hitched first, and drawing them to a house or apartment away from the city and in the suburbs instead?

There Are More Property Options

There are a plethora of options for the fledgeling property buyer now, and some are tempting the younger crowd more than others. Many are choosing to look into more info on new builds, and land ownership where you can design exactly what you want within your budget. With future family plans in mind; these new build properties are ideal for young couples, and eliminate the potential added costs of renovation and maintenance.

Young creatives are being drawn towards the buildings that weren’t originally made for housing. With many factory and warehouses going up for sale; those with a limited budget tend to do the work little by little until they’ve created their dream pad just outside of the city.

And of course, there are always properties that just need that surface work doing to them. Younger owners have the energy and inclination to paint and decorate during their weekends, and as long as there is plenty of space; they don’t mind putting the elbow grease into their new home.

Weddings Are Getting More Expensive

In a digital and seemingly Instagram-perfect society; young people feel the pressure to live up to what they see and read online and in the media. However, it’s rare that they have the budget to do so. An extravagant wedding might be something they desire, but because they don’t have the extra cash to spare; property seems like the achievable, savvy, and appealing option.

Young couples are also happy to have longer engagements and feel settled when they’ve invested their time and money into their home. Therefore, you’re more likely to see a twenty-something signing their mortgage papers, than a marriage certificate.