Having a child Before or After Buying a House

Dear Clover,5 years ago

We have been thinking about having a child. The only problem we are having is whether we should have one and wait to buy a house or wait to buy a house and have a child. What would be the best option to choose? I really would like to have a child but I would really like to move into my own home.


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Dear anonymous,5 years ago

There's no question that a child is investment in more ways than one. I've always been an advocate of waiting to have children as long as is practical. The more you get your finances, career, etc in order the less stress you'll have and better be able to raise your children. Without knowing your situation on greater detail I would suggest buying the house first.


Dear anonymous,5 years ago

That question is as difficult as 'what came first, the chicken or the egg,' but carries much more weight. To me, it is a personal matter and you should go with your gut instinct. I can only describe what I have seen personally, so take from it what you want. The first thing to agree on is whether it is a house or a baby, they are both going to cost you a lot of money leaving little left over to save.

With the economy in such poor shape, the amount homes for sale and foreclosures it is probably one of the best times to buy a house. Ten years ago, $100,000 might have got you a tiny fixer upper, but the same amount today could get you a 3000sqft new, or newly remodeled house (with room to grow) in a nice area. Work with an experienced agent; they know every type of financing/interest rates and other available opportunity for 1st time house buyers. They are also privy to information on short sales and know which houses haven’t sold, making the owner more than willing to negotiate.

If you buy a house first and becomes pregnant any time afterward, the moment you see your baby, you and your partner will do whatever it takes to fulfill the baby’s needs. On the flip side, if you have a baby first, the baby becomes your entire world, putting the purchase of a house on the back burner. Every dime you make, every spare minute you have, will be for the baby, and college savings, medical care, clothing and many, many more things.

It makes saving for a house low on the priority list and very difficult to do. Your baby will always take precedence over everything, and there always seems to be something else to use your savings for, so you put it off a month, and then another month. By the time you’re ready to buy a house, the economy may have taken an upward turn and you’re right back where you started, buying a tiny fixer upper, just where you didn't want to be.


1 vote by starfish