Would you buy a new house while expecting your first?

[Anonymous]

I'm expecting my first and we're ready to buy. I fully plan on returning to work full-time or on a slightly reduced schedule, but then again, everyone tells me to keep an open mind. I'm worried about basing our purchase on my income - anyone else struggle with this with their first (or second), or should I trust my gut, which says I've always wanted to come back to work and will?

[Anonymous]

I absolutely would, if I could just sell the one I'm in now. If you have the means, and some savings, there are great deals on houses right now. You'd save yourself a lot of stress doing this now instead of with a little one running around. As far as finances go, though, have you crunched the numbers and determined whether you could still comfortably afford a new mortgage if you decided not to work anymore? Or to work part time?

[Anonymous]

I agree with PP on all points, adding, as I'm sure you know, that it's good to crunch numbers including the cost of daycare. If the only thing holding you back is the possibility that you may not want to return to work (even though your gut says you do), just think about how many moms have to return to work because we already have a mortgage or bills that require us to have an income.

[Anonymous]

As someone who just bought a year ago, I'd say WAIT! Unless you're buying a new home with a warranty or a condo that covers maintenance, you'll be shocked how much extra income a house can suck up. We definitely did not expect to spend $6,000 on a new boiler last fall!

[Anonymous]

We almost did but couldn't find a house we were really happy with. I NEVER, NEVER, NEVER, NEVER, NEVER in a MILLION YEARS though I'd SAH. Know what? I quit my job 6 weeks after going back. Now, my son is one and I am looking for a PT job but don't expect anywhere close to my prior income. I'd wait. Seriously. See how you feel. Or buy based only on your DH's income.

[Anonymous]

I know many people get the impulse to buy when pregnant and it's completely understandable. We moved (from one rental to another when I was three months pregnant.) That said, I would wait because I've found I look at things differently now that I have a child. Even though there was no chance I would be quitting my job, things that didn't bother me about my neighborhood do now -- like high curbs that make our supposedly walkable neighborhood less so, the number of kids on the street versus couples without children, the layout of our apartment. But if you know exactly where you want to live and what kind of house you want, it is a good time to buy. I think it will probably be a good time, and possibly even a better time, to buy a year from now.

[Anonymous]

If you're not sure, could you wait a bit longer? If you're in a smaller place and it's a rental, it is actually really nice not to have a lot of maintenance to do in the first few months of your baby's life. And if you're walkable to parks and shops, you will REALLY appreciate that once the baby arrives. Newborns don't take up much space; you don't need as much room as you may think.

[Anonymous]

I'd say buy but fully considered the bermuda triangle of house size/features, commute, and schools when you do so.

[Anonymous]

Anonymous wrote:If you're not sure, could you wait a bit longer? If you're in a smaller place and it's a rental, it is actually really nice not to have a lot of maintenance to do in the first few months of your baby's life. And if you're walkable to parks and shops, you will REALLY appreciate that once the baby arrives. Newborns don't take up much space; you don't need as much room as you may think.

Agreed. I have three friends who did home renovations in prep for baby. Only one was done on time. I would say there's no need to move until baby is at least 6 months, probably closer to 9 months-1 year.

[Anonymous]

I guess it depends how important your income is in your monthly budget. My salary is far higher than my husband's (almost triple his salary) and me not working is simply not an option. You will also want to factor in daycare costs vs. no daycare costs in your monthly budget and see how it works out with your monthly salary in the mix.

And I agree with a pp -- owning a single family house is expensive! We owned a condo for five years, and there is a huge difference in costs for maintenance, not to mention the time spent on yardwork, cleaning the house, etc. Such a huge difference, but one we were ready for and wanted.

Good luck!

[Anonymous]

I'd wait, housing prices are not about to jump. Maternity leave is a good time to surf the listings without making an irrevocable decision. You'll probably end up going back to work, but see how you feel. You may also think differently about walkability,d aycare, transportation, schools, etc once you feel the lifestyle impact of a child. What counted to me prebaby is not so important now and other stuff way more important. (um, didn't consider that having a bathtub was going to be important!).

[Anonymous]

I did - and I'm completely glad that I did. It was horrible looking for a place while I was pregnant, because I was big and slow and it was a pain....until I found the perfect place.

We had packers and movers helpout with that part - and it was great to have my daughter born and come home to our wonderful new place.

[Anonymous]

We bought right before DS was born, but I knew I only wanted to go back part-time so we based the mortgage on my reduced salary. Like a PP, I earn a lot more than my husband, so staying at home FT was not an option. I'd say buy if you want to, but go with something that you can afford on your husband's salary alone or a reduced salary from you.

[allisong]

We bought our first house on my DH's income alone, and I'm glad that's how we did it.

The first year of home ownership was full of unexpected expenses. The toughest blow was when we discovered four feet of mold around the entire perimeter of our finished basement and all over the floor under the carpet. It's not reasonable to expect mold behind drywall and under carpets to turn up in an inspection. And insurance does not cover mold. We ended up paying for the mold remediation, waterproofing our basement to keep it from happening again, and then all the refinishing. The whole project was also six months of chaos.

We haven't regretted our decision to buy for a single moment, and I wouldn't say you shouldn't buy - just do it with eyes wide open about the potential stress and expense. I have to admit, I'm really enjoying the idea of bringing a baby home to *our* house.

[Anonymous]

My husband and I are looking to buy (though likely a condo or coop), and will only do so before the baby is born if we find the "perfect" place at the right price. I know it would likely be easier to move before the baby is born, but we think this is such a major investment, we want to make sure we get the right place that is affordable. If that means we end up saving more money because we are in a rental for the first 6-9 months after the baby is born and perhaps consider other factors that we aren't thinking about at this point, I am happy with that. And I am fairly certain prices aren't going to skyrocket in the next year, so we are not feeling rushed.