Downsized wedding but may not want the larger reception next year??

Also to add, we already sent the save the dates to everyone’s I’m not sure how to word it on the invitations or our website

I also wanted to add that we already sent out save the dates so I’m sure our guests will be expecting an invite to next year. It just seems excessive to be spending all this money (even if we can afford it) and having to stress for another year.

I find 60-70 quite large lol but that’s because we were/are planning about half that number. IDK personally if I were having a wedding with 60-70 guests, it would be once and done! LOL

We’re on the same boat. 60-70 in September. I say focus on this year and give your guests the best experience possible. You may not want to do the whole thing again next year but you don’t have to make a decision right now since you’ve pushed it back until further notice ! Focus on September See how you feel next year! Honestly I’d keep the venue for the 70 guests why not if you’ve already paid for it? Unless the balance after the deposit is significantly higher?

I think people should definitely understand that they can only come to the reception because of covid. The normal etiquette rules barely apply to weddings this year, but it's usually that If you only invite someone to one part, it has to be the reception, so you're good there.
I think whether or not you will regret skipping the big party probably has to do with why you wanted to have a big wedding in the first place. I would've been okay with just having a mini-wedding anyway, but my fiancè is social and likes the idea of having a big wedding. Also, he and I each have many relatives who would make me feel guilty by passive-aggressively commenting about how we didn't invite them to the wedding until they die, and I would rather have a big wedding than deal with that, even if now it's not going to be the "real" wedding.

If you decide you're okay with canceling the big reception:You said you postponed your wedding until "further notice," which does not necessarily mean 2021. Without a date, people should not be expecting invitations on any specific timeline. On your website, you can put something like "Erin and Spouse were married in a private ceremony on September 13, 2020. Due to the uncertainty surrounding the safety of large gatherings in the time of COVID-19, they have decided not to have a larger wedding celebration. They look forward to celebrating with family and friends individually in the future."
If you decide you're not okay with canceling, but you're not as excited anymore/you want to save money:At your venue, is there a way to have a more casual/less expensive event? For example, instead of having a seated dinner maybe you have a cocktail party with passed appetizers. It doesn't have to be five hours long. If it's outdoors, you set up lawn games. At some point, you make a grand entrance and give a speech thanking everyone for being there and supporting you, and mention how grateful you are that they all made it through the pandemic. You have a bunch of pictures taken, and maybe you cut a cake to remind people it's a wedding-related event.

Due to covid, everyone is understanding and things that would have been considered rude in the past, aren’t right now. So I think your ceremony/reception plan is fine. Also notifying guests that your wedding capacity is limited due to covid guidelines will be completely understood. Second, I don’t think you’ll regret not having a larger reception next year because you’re already having one with 70 guests. Doing something a year later just to include more people wouldn’t be necessary. For this same reason, I selected to postpone altogether and not do anything this year. I knew that if FH and I eloped or even had had an intimate 10 person celebration, I wouldn’t want to do another next year, simply to recreate the wedding reception for a larger crowd. We’re only having 60-65 guests anyway. So pushing everything to next October worked best. As for your deposit though, that’s tricky since deposits aren’t usually refundable. So I’m not sure if that will play a part in you’re decision about next year or if it’s worth taking the loss.

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This, what Marisa said. I'd move forward with your venue at the smaller guest count if possible and just be done.

We went from wanting / planning a 25 person wedding to suddenly now we're at 50 - 60 guests who are all basically saying they are coming. I THINK it's because we're all essential workers and are just ready to take some time off and who doesn't want to spend a long weekend on a tropical beach.

I completely understand questioning whether you would like to have the large wedding & reception a year after getting married. I think this pandemic is really causing a lot of people to second-guess their wedding plans. I would say, focus on having the wedding you want right now. Then, after it’s over, you can decide whether you would like to do it all over again in a year on a bigger scale. I would also contact your venue and ask them if your deposit is transferable. If so, you could always look for somebody else who might want to take your date at your venue.