Canadians prefer money for a first home down payment over traditional wedding gifts

Ottawa —
A new survey showed that the majority of Canadians about to get married prefer to receive financial contributions to help them secure a down payment for buying a house, rather than receiving traditional wedding gifts.

According to the survey, 79% of participants who are planning to get married, or know someone preparing for it, said they might consider asking for money to help buy a house instead of the usual gifts.

82% also said they are willing to reduce wedding plans or cancel them entirely in order to direct the money towards a down payment for a house.

The results reflect a clear shift in the priorities of Canadian couples, as owning a home has become more important than holding a large wedding or receiving traditional gifts such as household items.

Participants in British Columbia and Ontario were the most inclined to ask for financial contributions for housing, which is related to the high housing prices in these two provinces, especially in the Greater Vancouver area and Southern Ontario.

In contrast, residents of Manitoba, Saskatchewan, and Quebec were less inclined towards this option, although about two-thirds of them said they are open to it.

Even among those previously married, the survey showed that financial pressures may have changed their view of wedding day priorities, as 57% said they would have preferred to ask for money for a house down payment, while 10% said they actually did so.

Specialists say that rising living costs and housing prices have made many couples rearrange their priorities between celebrating one day and building long-term financial stability.

83% of participants reported that buying a house represents the biggest purchase of their lives, which explains why the down payment has become a priority ahead of many traditional expenses associated with marriage.