Reply to Am I crazy for thinking that we could afford this?

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[quote=Anonymous][quote=Anonymous]You'll be ok with your incomes but be VERY careful about childcare.  It's extremely rare to have full-time grandparent help. [b] It won't work out the way anyone thinks it will[/b].[/quote]

I disagree with this based on my personal experience.  We have family who watch our two kids full-time and it works out GREAT.  I couldn't ask for better childcare and my relationship with my MIL is stronger than it has ever been.  I'm not saying that this is always the case--of course, there are situations where things could be terrible.  But I have known several people who have depended on family for childcare and all of them are very happy with the arrangement.  It can work out--it has been great for our family.

We do send our older child to pre-school now and that is not cheap so while you may not need to estimate $50K for a nanny, you should factor in at least $10K a year for pre-school, camps, etc because even if the grandparents are willing, you will still want socialization for your child.  But this doesn't really come into play until they are over 2.

Is it smart to factor in childcare before buying a house you can't afford if the grandparents don't work out?  Yes, absolutely.  But don't be discouraged by those who are saying that it won't work out no matter how successful you think it will be.  It can work out...it's not impossible.[/quote]

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