Babies & Mortgage??

Save_me

Hi All

Just looking for some advice if possible...

I'm 32, married and just in the process of buying our first home. We've not gone for the cheapest of houses but I'm viewing this as our 'forever home'. It's got enough space to grow into as a family and the repayments are manageable at present - hopefully we will be able to start overpaying in the next 6 months or so when we are settled.

My dilemma is that I want children. I know people manage their money once they've had kids but I like to be organised and I want to enjoy having them rather than stressing. I can hear the clock ticking louder and louder, do I just go for it and juggle mortgage repayments, bills, childcare fees or should I delay for a little longer?

I know it's a subjective question but any help, tips, advice would be lovely right now!

Thank you in advance.

CH27

Do you know just how expensive childcare is?

Do you know what sort of maternity package you will get?

What happens if you don't want to work fulltime when baby is here?

Can you cope with childcare costs when the interest rates rise as they inevitably will at some point?

samtoby

There is no right time to have a child.

IHateDida

Save_me wrote: »

Hi All

Just looking for some advice if possible...

I'm 32, married and just in the process of buying our first home. We've not gone for the cheapest of houses but I'm viewing this as our 'forever home'. It's got enough space to grow into as a family and the repayments are manageable at present - hopefully we will be able to start overpaying in the next 6 months or so when we are settled.

My dilemma is that I want children. I know people manage their money once they've had kids but I like to be organised and I want to enjoy having them rather than stressing. I can hear the clock ticking louder and louder, do I just go for it and juggle mortgage repayments, bills, childcare fees or should I delay for a little longer?

I know it's a subjective question but any help, tips, advice would be lovely right now!

Thank you in advance.

I would say delay for a little longer if you can - at least a year. When you move into a house, you end up having to spend a small fortune on "new" house things that you just don't budget for eg. curtains, curtain poles, new flooring, even things like door mats and paint - all add up!

Get yourself sorted in your new home first - and then think about a baby once you have splashed the cash on housey things!

Unfortunately I have mis-planned a bit - we have just moved in to our new house (ok....not our first house and we have down-sized), but forget all of the costs involved when moving into a new home - plus any day now our first baby should arrive (I am late 30s) - and financially we can cope but we're not in our first home.

But you are early thirties - and the odd year is unlikely to make all that difference (hopefully!) - get your home sorted first and then start planning your family once you have settled and know that you will be able to cope financially.

Good luck!

Save_me

I think a year's wait would be reasonable. It might not happen too quickly after that anyway! Just don't want to miss out on something I've always wanted. Good luck with the first baby! x

fannyanna

I had this predicament a few years ago. We were living in a one bedroom flat at the time.

We decided to go ahead and start trying for a baby.

A few years on we're still trying (and probably will be for a while). The only thing that's changed is that we moved to a 3 bedroom house towards the end of last year. So we now have the space for babies but my body isn't playing ball.

So, I'm biased but I wouldn't put trying to conceive on hold - IF, you can get by if you're lucky enough to get pregnant fairly quickly.

Annisele

So long as you can just about afford it, I think that if you want children, you should start trying. There'll be no child for 9 months anyway, which should give you time to get settled in your house.

If you leave it a year - or five years, or ten years - you'll still be juggling mortgage repayments, bills, and childcare. If you wait until your mortgage is paid off, you'll likely find fertility is the major stumbling block.

fluffnutter

God, have the baby. You'll manage. You never go out once you've got one anyway, so you save loads that way

Guest101

I'm 27 an my partner is 31, we have 3 kids (i'm trying to convince her to have 1 more) and we manage just fine. Like other's have said you don't really spend much on not going out - think i spend more on washing powder than drinks!

When people say, but you're so young etc how can you have 3 kids?! I just say I don't want to be 50 when I can take my boys for a pint and watch the match! (it's 3 boys!) I'll be 39 when my eldest hits 18, seems like a good age to me.

The longer you leave it, the worse it is, in my opinion

snozberry

I would wait a year or two because the first year or so in a new house is really expensive. Something always crops up! Save as much as you can during that time and then go for it.

mrsd1984

We purchased our first house at the beginning of this year. We started the process around October last year. Around the same time I fell pregnant (baby now due in 8 days :eek: ). We have so far managed pretty well financially and have been saving like mad so that we could get what we needed for the baby without any of it going on a credit card. Yes, we still have debts, but can afford to pay them each month, all interest free. Since moving in our boiler has leaked, the hob broke and we redecorated throughout. Again none of this has gone on a credit card.

Ideally we should have paid off debts first, but life happened which we are totally over the moon about. There is never a right time to have a baby, there will always be a reason, but when it happens you will manage. I'd save hard now, though.