Doing the math

We’ve been kicking around the idea of what we want our next big step to be after we get married. House, then baby? Baby, then house? I’ve been doing the math over and over — to the point where I’m filling out fake 1040 forms to work the numbers and see how much we could deduct on a house (mortgage interest, etc.). We can afford a house, sure. But throw in a baby (if we’re so blessed) and the costs of day care, things get uncomfortably tight. Really, really tight. While I do as much freelance work as I can now to add to our nest egg, I can’t see myself doing much in the way of side work while taking care of an infant. And with the economy in the shitter as it is now, working from home doesn’t seem to be an option.

My argument is that while a home would be nice, we have room for a child in our apartment — we have two bedrooms — and could still manage to save additional money for a home and expenses, reducing the mortgage payment and freeing up more cash. The baby wouldn’t know he was in an apartment, and we could buy a home within a year or two. Our parents had us in apartments the first few years of our life (in Newark, the horror!) until they were able to afford their own homes. I really think it’s the best way to go.

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