Did you know there are online registries that allow guests to make donations toward the down payment for a home?  (Image provided by Coldwell Banker Heritage Realtors)

Dreaming about the big day? Invest in home!

Summer is wedding season! Whether you are the ones getting married, or you are preparing to attend a friend’s wedding, you should know that there are gift options that go beyond those fancy china dishes that will just gather dust on a shelf in the dining room.

Did you know there are online registries that allow guests to make donations toward the down payment for a home? The “gift of home” is one that will last for years and will be remembered for a lifetime. Instead of registering for a toaster or new sheets, you could make an investment in your future.

Here are some of the registries, as well as some pros and cons for each…

Deposit a Gift

Pros

* Customize your registry site

* Create categories of what you are saving for or looking for

* Status of your registry is constantly updated

* Accepts credit cards

* Withdrawing the money from the registry is free, with no restrictions

* Can receive the money via an ACH direct deposit of $500 or less, or via a personal check of $500 or more

*Easy to set up

Cons

7.5% flat fee total gift purchase balance (what you have to pay or the giver pays)

Feather the Nest

Pros

* Set your fundraising goal and length of your campaign

* Share with friends and family over all social media networks 

* Accepts all major credit cards 

* Could use a real estate agent as a sponsor 

* Does anonymous donations as well 

* Gives notifications and logs the donations 

* Can use a bank account 

* Transfers the money as soon as it is donated

Cons

* Charge 5% transaction fee on every transaction 

* Anything over $600 gets reported to the IRS as miscellaneous money

Zola 

Pros

* Create customized cash fund for down payment 

* Receive gift notifications 

* Can shop on the site for your registry as well as donations 

* Keeps track of who bought or gave you what on a "Thank You" note manager 

* Transfer cash gifts into your bank account as soon as they are purchased 

* Personalized page 

* Also available as an app 

* International credit cards have no extra fees 

* Easy set up

Cons 

* 2.7% fee in credit card processing

 Looking for more information about purchasing your first home? Visit ownyourdream.me

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