Reply to What’s a reasonable HHI to have children here?

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[quote=Anonymous]I think you make more than enough to have a child.  But yes, it is very expensive to live in this area and to raise a child, and it has only gotten worse over the years.

If you put off having kids, you really should prioritize saving AS MUCH AS HUMANLY POSSIBLE NOW if you plan to have them.  $200 - 300K is a lot for two people without kids, but its easy to blow your way through it if you like to live the high life with lots of travel, dinners out, expensive clothes, designer purses and fancy cars etc.

Also keep in mind that day care costs rise every year, and the cost of housing has become totally insane.

By way of example, my husband and I bought our 3 bedroom split level house in Potomac for $650K in 2014.  We quickly refinanced to a 3.6 percent interest rate, so we have a monthly payment for our $3,200 PITI.  If we were to buy our house today, it would cost us $5,200 PITI, when you factor the increased value and higher interest rates.

Also when we bought our house, full time infant day care for our son was $2,000 a month at our very highly regarded day care center.  Now its $2,600 a month.

So, for someone to live our exact same life, in the same house, sending their child to the same day care, it would cost them $2,600 a month more than what we paid.

The longer you wait, the more things will increase in price.  So yes, its doable, but if you live a fancy life now on your salary, where you spend a lot on non-essential things, you will be in for quite a shock when you have kids.

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