Forget toasters. Try a home registry!
It happens all the time. A couple plans to marry. They’ve chosen the church, the reception hall, the meal, the cake, the band, the flowers. Now it’s time to let guests know what they could use as gifts. But there’s a problem. These two soon-to-be-wed individuals lived on their own before they decided to marry. Not only do they have the basic household needs plus some, they have doubles! The last thing this couple needs is another toaster or another set of china. No, what they could really use is a home to call their own. That’s where home registries come in.
Home registries are the up-and-coming trend in gift giving, not only for people intending to marry but for those expecting a child, those who are hard to buy for and those who simply don’t need anything but a path towards home buying. The concept is based on the traditional registry: the couple makes a list of items they could use, and the gift givers choose from that list of items. Instead of buying household goods, however, the gift givers are “buying” pieces of a home.
No, friends and family are not out at Home Depot purchasing sinks or flooring. Rather, they are using a website like Hatch My House where they pay for pieces of a virtual home, gifting real money that can be used as a down payment for an actual home. For example, a family member might “buy” a window. The suggested value is $75. Another family member might “buy” a front door for $200. The money goes into the couple’s PayPal account, which essentially becomes a savings account for the new home.
There are other ways to use home registries as well. Say there’s a baby on the way. Maybe the family needs nursery furniture. The family can “build” a house and furnish rooms with items they need. Friends can visit the virtual home and “buy” a cradle, a changing station, a dresser or whatever necessities the couple has furnished the virtual home with.
Sites such as Feather the Nest show different uses of the registry, including for home repair and renovations. In this scenario, the home owner describes items necessary to complete a project. For example, a home owner might need a new roof or a new kitchen floor. Or it could be the home needs a complete overhaul. Contributors help “feather the nest” by giving money to the cause.
For first-time homebuyers in particular, the advent of home registries is a boon. Starting out can be difficult, and these registries help ease the burden, giving new homebuyers peace of mind that there is a way to finance their dream. And loved ones are eager to help out, knowing they are giving gifts that matter. It’s a win-win that can really make a difference!
Belinda Jacobson-Loehle is an experienced real estate broker and certified home stager. Contact her at 703-338-9678 or via email, Belinda@JacobsonRealty1.com. Visit www.JacobsonRealty1.com or www.JacobsonRealtyandHomeStaging.com for more information.
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