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.
About ERA Real Estate
ERA Real Estate is an innovative franchising leader in the residential real estate industry with 40 years of experience in developing consumer-oriented products and services. The ERA network includes approximately 31,000 brokers and sales associates and approximately 2,300 offices throughout the United States and 35 countries and territories. Each office is independently owned and operated. ERA Real Estate is a subsidiary of Realogy Holdings Corp. (RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.
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