In today’s culture, homeownership has become a significant aspiration, emblematic of the “American Dream” that often includes a house with a white picket fence. However, for many, this dream remains out of reach. Homeownership is frequently viewed as a key investment for the future, but it requires a certain level of financial stability that many simply don’t possess. The Netflix series “Marriage or Mortgage” presents couples with a poignant dilemma: if you can only afford one, what will you choose? For my partner and me, the answer is straightforward—marriage. Given our financial situation, we recognize that we lack the sustained wealth necessary for homeownership.
I personally would prefer to invest in a wedding rather than a house. While some may see this as a frivolous choice, here’s my perspective: homeownership is a long-term commitment that demands not only a significant upfront investment but also years of maintenance and financial responsibility. A wedding, on the other hand, is a one-time expenditure. Once it’s paid for, the financial obligation is lifted. This freedom holds more appeal for me than being tied down to a mortgage for decades. Renting may have its inconveniences, but it remains a viable option, unlike the more permanent nature of marriage.
My partner and I got engaged during the 2020 holiday season, and naturally, friends and family are eager to know our wedding plans. We’ve decided to save for our wedding over the next few years while prioritizing other financial obligations. The idea of celebrating our love with friends and family is incredibly meaningful to us. As we watched “Marriage or Mortgage,” we identified with a couple on the show—much like them, my partner has been married before, while I have not. For us, a wedding represents a fulfillment of dreams, and given our creative backgrounds, it feels like a more realistic financial endeavor. We can always adjust our wedding plans to save money, but the rising costs of homeownership feel like an elusive chase.
Currently, we both carry substantial student loan debt. I struggle to make a dent in mine, while my partner pays off her loans as she can. Although I’ve cleared my small credit card debt, we’re still focused on her remaining balance, which, while not excessive at around $11,000, still impacts her credit score. This, in turn, complicates our prospects of securing an apartment, let alone a mortgage. Our situation is far from unique.
The COVID-19 pandemic has starkly highlighted the fragility of financial security. As a writer, I’ve been fortunate enough to continue working, but my partner, who is in the entertainment industry, has faced job loss. This has placed the financial burden solely on my shoulders. The pandemic has shown how quickly circumstances can change; one can buy a home only to be left jobless shortly after. Even if you manage to keep up with mortgage payments, without savings, you’re vulnerable. We’ve entered a recession that could have long-term implications for homeowners, a reality that “Marriage or Mortgage” doesn’t fully explore.
While the couples on the show might have managed to save for a house, do they have the financial stability to sustain those payments? What happens if unexpected repairs arise? Watching couples debate minor details like shower sizes is entertaining, but it glosses over the substantial challenges of homeownership. One couple featured in the show both work in fitness—what if one of them sustains an injury and is unable to work for an extended period? Their families might assist with the down payment, but they likely won’t cover monthly mortgage payments.
Homeownership comes with many hidden costs that often go unconsidered. My partner and I have weighed the pros and cons of owning versus renting. If something breaks in a house, you’re liable for repairs, which can be financially daunting. Conversely, if an issue arises in my rented apartment, I simply submit a maintenance request, and the cost is covered. If we lack spare cash for urgent repairs, renting provides peace of mind that homeownership does not.
Many critics argue that the choice between a wedding and a house seems trivial in the context of a pandemic. While it’s true that couples couldn’t foresee such a crisis, it’s worth noting that buying a house during uncertain times raises questions about financial viability. Although some claim that purchasing property during a pandemic is wise due to lower prices, the underlying economic instability makes that a risky choice. Most couples who chose weddings ended up scaling them back due to COVID-19, ultimately saving money.
In a follow-up article, Women’s Health interviewed the couples from the show, revealing how their lives have changed since filming. Two couples that opted for weddings faced pandemic-related job changes. One couple, both ER nurses, experienced burnout and left their jobs, choosing to pursue further education instead. Had they bought a house, they likely wouldn’t have had the flexibility to make such a life-altering decision. Similarly, personal trainers saw their income diminish as gyms closed, illustrating the unpredictable nature of financial stability.
My partner and I are aware that our rent could cover a mortgage, but numerous obstacles hinder that possibility. Unlike securing a loan for a home, funding a wedding doesn’t require a credit check. My ability to purchase a wedding dress isn’t contingent on my credit score. While weddings can be costly—and I understand why some deem them extravagant for a single day—our marriage remains intact regardless of our financial situation. We won’t face the risk of losing our home, which is an incredibly reassuring thought.
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Summary
This article discusses the dilemmas faced by couples on Netflix’s “Marriage or Mortgage,” emphasizing the preference for marriage over homeownership in the context of financial instability. It highlights the long-term commitments of homeownership versus the temporary nature of wedding expenses, particularly during uncertain economic times.
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Keywords: Marriage or Mortgage, Netflix, homeownership, wedding planning, financial stability, student loans, COVID-19 impact, renting vs owning.