Vancouver is the most expensive Canadian city for both a wedding and a down payment

Vancouver is the most expensive major Canadian city to pay for both a wedding and a down payment, according to new data from Zoocasa, a real-estate platform.

An average wedding in the Vancouver metro area costs $38,000, and a down payment (on a $1,114,800 home) is $86,480.

Meanwhile, in seven out of 11 other major Canadian cities, a down payment is cheaper than a wedding. This includes Montreal, Calgary, Edmonton, Halifax, Saskatoon, Regina, and Saint John.

Only Toronto, Victoria, and Ottawa join Vancouver as weddings are ranked as the “more affordable alternative” to paying a down payment on a home.

A wedding in Toronto is $35,000, compared to an average down payment of $69,230. In Victoria, the big-day celebration is $33,000 verses $61,500 for a down payment.

In Ottawa, the prices almost level out, with wedding costs at $30,000, about $6,500 less than a down payment of $36,550.

City of Vancouver

Zoocasa looked at data from WeddingConnect and compared it with average down payments based on real estate prices from the Canadian Real Estate Association (CREA). Mortgage costs were based on a 3.89 per cent five-year fixed rate over a 25-year amortization period.

“In Canada’s priciest markets, couples have a compelling reason to save aggressively as the gap between celebration and investment widens,” the report from Zoocasa notes.

In Vancouver, if you’re looking at a detached home at an average price of about  $1,887,800, a 20 per cent down payment is “a staggering $377,560, nearly ten times the cost of a wedding.”

Even if someone is entering the market at a more “accessible entry point,” they’re still looking at down payments of approximately $46,000 in Vancouver, or $8,000 more than an average wedding.

How much does a wedding cost in Vancouver?

Zoocasa got its data from WeddingConnect, which breaks down the average costs of weddings across Canada. A couple planning a wedding for 2027 with 100 guests is looking at spending $38,000.

They based this on an analysis of 50 data points from real weddings and vendor pricing, including a venue, catering, photography, and other major wedding expenses.

For example, the average venue is $20,000, catering is $9000, alcohol is $4,500, a photographer is $4,500, and flowers are $3,000.

“Actual costs can vary based on your specific choices and requirements,” it states on the website.

A survey from 2023 found that 85 per cent of couples’ biggest worry was paying for the big day.

For couples who don’t want to break the bank to get married, the City of Vancouver offers “micro-weddings” at City Hall, with small, medium, and large celebrations. Costs are between $332.75 and $998.25 plus GST.

Are you choosing between a down payment or a wedding in Vancouver? Or do you have tips on how to achieve both? Let us know in the comments.

dh_you_might_also_like]