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- N. Raghuraman’s Column The Order Of Traditions Is Changing In Millennial Weddings!
18 hours ago
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N. Raghuraman, Management Guru
Marriage is an important stage of life. But now priorities are changing rapidly. Traders in travel, hotels, textiles and jewelery in India expect trade worth Rs 5.9 trillion in the last two months of 2024, which will boost the economy.
If those getting married are not living with their parents, it is possible that many of those couples will pool their money and buy a house for themselves. But the case is opposite in developed countries. There are many marriages on hold because couples have decided that they will buy a house before getting married.
Recently I received an invitation to a wedding to be held in December 2025. On asking the reason for the invitation so early, it was revealed that the boy and the girl knew each other and they got engaged in 2023. Since then, he has been investing the money from his salary in buying a house. 90% payment for the house will be done by November 2025.
Although they will get the house only in mid-2025, they still want to move into the new house without any debt. Unmarried couples account for more than 11 percent of total home sales in America. This figure has increased in the last few years.
According to a survey, about 5,55,000 people bought houses before marriage in 2023. There was a delay in their marriage because for them buying a house is as much a commitment as marriage.
Couples who postponed their marriage said in the survey that they were giving priority to financial grounds rather than marriage certificate. He asks, ‘Even after marriage, couples focus on buying a house, so what is wrong in doing so before marriage?’ Many couples are asking for help with the down payment instead of traditional wedding gifts. The average age for buying a house and getting married has also increased. It has become 30.2 years for men and 28.6 years for women.
What is interesting is that the couples are behaving like partners in a company. They buy a house that can be divided into two parts. These usually have two floors, so that if the marriage does not last, they can take different floors. Lawyers these days are teaching such couples to share financial responsibilities.
The married couple are also discussing other questions, such as whether one owner will have the option to buy out the other’s share and how much time they should have to contact a real-estate agent if they decide to sell the home. Can distribute money.
As both homes and weddings have become increasingly expensive between 2019 and 2023, the trend for highly private wedding ceremonies, attended only by close relatives, has increased in developed countries. They are saving the wedding expenses and investing in a house, which will help them start a financially secure life.
Then, for a few years, they invite different groups of friends over and throw parties at important milestones, such as five years of marriage.
The bottom line is that There is nothing wrong if couples decide to pool their money before marriage to buy a house and make their future financially secure. But they must ensure that the love between them remains intact because the promise of holding each other’s hand is stronger than the foundation of a house.