Always a Bridesmaid, Never a Homeowner

bridesmaid

Helping a friend plan a wedding can be one of the most selfless, emotional and exciting investments of your 20’s and 30’s. This year alone I will either be in or attending 13 weddings, and y’all, I get it! It’s overwhelming! So many of my friends are delaying homeownership in the interest of helping their friends’ dreams come true but it’s rarely so black and white. Today I’m going to share with you how it’s not only feasible, but actually PRACTICAL to spring for a home in the throes of your bridesmaid duties.

First of all, your organizational skills are at an all-time high. If you’ve never tried to plan a bachelorette party complete with t-shirts, dinners, activities, deposits, and EMOTIONS, then you can’t call yourself a multi-tasker. Let’s all be honest, getting your friends to move in the same direction is like herding cats- vegan, gluten-free, sometimes pregnant, opinionated cats. As a bridesmaid you are constantly meeting deadlines, providing feedback and staying in contact with multiple people. All of these skills are necessary in buying a home and take time to sharpen. Therefore, there’s no reason not to strike while you’re at the top of your game! Plus, if you choose the right Realtor, the pressure will be totally off. They’ll be the ones searching for properties for you, going to bat in negotiations, and even booking appointments with contractors and inspectors.

Next, for every wedding you participate in as a guest or a maid, consider the number of events you’re contributing to. Add up all of the time you spend looking for restaurants with private rooms, begging your apartment complex to extend the time you can have that little room off the lobby, and throwing money at bartenders because your friends drink Prosecco like water. Now, consider a venue that’s free of charge, has no restrictions or time limits, and requires NO Uber for you when you’ve deservingly hit the “Miss-mosa Bar” like a train. That place could be YOUR HOME! You could have the freedom to decorate how you please, avoid hauling decorations or food into someone else’s space, and have free reign to stay as long and be as loud as you’d like. I promise you, when you start to see the dollar signs add up for brunch buffets, gifts and venue deposits, you’ll understand that you could save you and your friends upwards of $1,000 per wedding.

I see you out there with your cute punny hashtags and your t-shirt designs. Girl, you are CREATIVE! Why not apply that creativity to find your home? If you find a flexible, innovative Realtor, you can be open with them about opting for an AirBNB space, garage apartment or in-law suite. Imagine offering a place for your girls to get ready, for local college students to crash or to house family from out of town before a big weekend. Whether you side hustle on Etsy with those “Bride-to-Be” sashes or gain passive income with a short-term rental opportunity, you have options to rake in the dough you need to buy that extra Kitchenaid attachment.

Lastly, if you aren’t capitalizing on the trips you book and the dollars you rack up on your credit card, you are throwing away money. Now, I am by NO MEANS saying to go open up a new line of credit without talking to a mortgage lender or trusted advisor. However, you can upgrade a current account to get flight miles, refer a friend to your preferred card for a bonus, or redeem your accrued points for gift cards and travel perks. You might be bleeding money like no other at this time in your life, but it can pay to spend wisely if you use the right credit card. I have the Chase Sapphire Preferred, which has allowed me to redeem multiple plane tickets, hotel stays and gift cards to Nordstrom/Lowe’s/Wayfair.

The bottom line is that homeownership sounds intimidating and is one of the easiest things to put on the back burner. Doing so can be doing yourself a major disservice long term! There’s no reason to build equity for your landlord by investing too much in rent when you could potentially be spending less on a mortgage and a space to call your own!