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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

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* 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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