The latest news concerning first time homeowners is that they may be middle aged and be well into a marriage or relationship before being able to afford a home if they ever can. The Chartered Institute of Housing released their concern last week that young families in Britain will no longer be able to work toward home ownership but will instead be forced into a lifetime of renting. With the average wedding in the UK costing close to 20,000 pounds many young couples may decide to give themselves a financial boost by buying a home rather than throwing a traditional wedding.

Banks are requiring large deposits for new home buyers, which is often difficult to obtain when the percentages of the purchase price for new homes can be 20 to 40 per cent. However, couples may start having more intimate weddings and later throw a large celebration for all at their new home. They will be choosing to invest in home ownership, or saving towards home ownership versus taking on the expense of a large wedding.

Choosing to buy right now if you can afford the deposit is a smart financial move when the alternative is a wedding celebration. Of course the memories of a wedding are priceless and every little girl’s dream, but there is also usually a dream of home ownership. Today’s home prices are low, there is an abundance of choices on the market, and interest rates are also low. So if you have the funds for a deposit now is the time to buy.

Weddings have grown into outrageous events, recently Chelsea Clinton’s wedding in New York cost an estimated $3.5 million. While the average couple would never spend that much, sometimes reality needs to sink in that the economy is harsh right now and after all it isn’t about the party part of the wedding that is important.  It is the part in the wedding concerning the vows that should take center stage. It may truly come down for many young couples now and in the years ahead to decide "A Wedding or a Home?".