MADISON, N.J., March 12, 2014 /PRNewswire/ -- In a recent survey from ERA Real Estate, a global franchising leader, nearly 50 percent of women said they would be willing to forgo a big engagement ring to use the money on a down payment for a home – with 17 percent saying they have already made the swap. When it comes to honeymoons, nearly 60 percent of respondents said they would forgo a honeymoon for a down payment, with more than 16 percent reporting they already have done so.
ERA surveyed 1,000 people in committed relationships to uncover the effect that buying a home has on a relationship and found 89 percent of couples felt their bond was strengthened by purchasing a home together.
"Buying a home is a major decision for a couple and one that can reveal a lot about a partner, especially in today's market where the home-buying process has become even more complex," said Charlie Young, president and CEO of ERA Real Estate. "Our findings suggest that homeownership is an increasingly important part of a relationship, especially among the first-time homebuyer generation who are investing in their future."
While many might expect life learnings from the home buying process, such as how many children a significant other might want or financial standing, organizational skills were deemed the biggest learning for couples in the survey.Other significant findings from the survey include:
- Location, location, location: 73 percent of couples find location is the easiest thing to agree on when buying a home, ahead of price, home size and how long to own a home
- What to toss and what to keep: Deciding which stuff to keep or donate was the most difficult part of merging two households, over finances, decorating and paperwork
- Safety first: 62 percent responded that crime rate and neighborhood safety were the most important part of choosing the location of a new home, followed by proximity to work and quality of schools.