Reply to How Do We Know if We Can Afford a Kid in the DMV?

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[quote=Anonymous]I think if you do the opposite of this guy, you'll be fine.

"I had a kid on 240k income. Wife was SAH but we still used an expensive daycare (her insistence). Bought a house in the poor part of Chevy Chase. Didn't learn to fix anything like a PP suggested - I don't trust people to do their own repairs and wish there would be a big sign on all houses as to whether the seller had a husband who thought they were Mr. Fix It (it'll come back to haunt you 5-10 years later). Had two cars with 2% interest car payments for 5 years - $85k in cars total. Traveled internationally 1-2 time per year. It was fine. A little tight, not a lot of eating out. But doable. Just realized though that this was 10 years ago so with inflation it might be a bit tougher today."

1. Don't buy in an overpriced neighborhood where you'll be pressured to keep up with others.
2. Don't buy someplace where you need two cars.  Find a place to live where you can take public transportation to work.  Driving in DC is awful.
3. Don't have a stay at home partner who insists on putting the kids into daycare instead of caring for the kids at home.
4. Don't lug your kids around on international flights. Your kids don't give a toss about traveling internationally when they're little unless you're going to see family. (I say this as someone whose in-laws live in the South Pacific, so I know what it's like to take a baby on a 12-hour trip every year.)[/quote]

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