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Can you afford kids?

Posted by Scott Van Voorhis August 14, 2013 09:01 AM

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Can't imagine who breaks out a spreadsheet on potential costs when deciding whether to have a child.

It would have been an exercise that would have warmed the heart of Thomas Gradgrind, that Dickens character who believes the only thing that truly matters in life are cold, hard, emotionless facts.

Picking out names was hard enough, though I am sure all the bachelors out there think that sounds completely ridiculous.

But if you are so inclined, Redfin has done the hard work for you, calculating the cost of starting a family in each of the country's top metro markets.

And, surprise, surprise, the Boston area is one of the most expensive in the country to raise a child.

In fact, you should expect to shell out an extra $34,000 during baby.s first year of life, with housing and day care accounting for the lion?s share of the costs, Redfin says.

That's $10,200 in added mortgage costs after moving from a two-bedroom to three-bedroom home, $14,400 in day care costs, as well as everything from hospital charges to baby clothes.

I have heard more than a few otherwise pretty smart people marvel at the high cost of day care in Greater Boston, as if it were some bizarre anomaly.

But it really doesn't take a rocket scientist - or an economist - to figure out that the high cost of day care in the Boston area is directly related to the high cost of housing. After all, day care workers need a place to live like everyone else.

I say forget the costs and go for it. Raising children is incredibly hard work, but incredibly rewarding.And having that first child changes you and your perspective on the world - you will never be the same. But that's just me.

This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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