Will I be able to afford a baby & Morgage Repayments?

Question

My partner and I, well we are not going so well, it's a comittment issue. I've been looking into moving out, and getting my foot on the property ladder, (as I live in his house currently). I've found a lovely flat, it's perfect, and I have had an agreement in principle for the mortgage. I want to go ahead, but I recently came off the pill 5 weeks ago, and I haven't come on yet, there is a chance I could be pregnant. I've done a preg test, and it was negative, but the last time we had sex was Mon 13th. I am not asking if I am pregnant, I am just trying to figure out if it is realistic if I were pregnant to cope on my own and manage mortgage repayments, do you get help with this kind of thing?

Answer 1

If you are in the uk then you would not get help with your mortagage payments, after 49 weeks you can get help but it would only pay the interest on your outstanding balance.
You would be entieled to child benefit, tax credits, working tax credits and housing benefit while on mat leave.
If the mortgage is a manageable one and you budget well now for the time you will be on maternity leave then yes you should manage.
Most woman with mortgages manage while on mat leave but it is not easy.
Also depends how long you have been with your employer what benefits you are entitled to.
But there is no reason to stop your plans at the moment as chances are your period is late because of stress, keep testing and go back on the pill if you want to buy a house and sort your finances out first.
As you have just came off the pill there is a good chance your cycle has not yet returned to normal as there may well be a build up of contracteption depending on how long you have been on it and what type it is etc.

Answer 2

It depends on what sort of healthcare system or insurance you have, and really where you live and what sort of programs there are to help single parents in your area. Look online or in your local phone book for planned parenthood or family planning clinics that can direct you in filing for child support or finding government agencies or non-profit organizations that help single parents.

If you have family that can be supportive and helpful, it's a big bonus. Would the father be willing to help out?

You can do anything you put your mind to. Don't pass on a great flat because you "might" be pregnant. If it happens, you'll find a way to make a great home for you and your child. If you couldn't manage living on your own for some reason, or if you got back together with your ex, you could always rent the place out and maybe even pay the mortgage off quicker or make a little money from it!

Answer 3

That will depend very much on your income and your comittment to a job and a child. Its so hard to purchase a home and be able to afford financially and emotionally the commitment of both. I would be more worried in emotional terms than in financial terms at this stage- especially if you are going to come out of a relationship. You should get financial help from your partner- if hes not willing there is the CSA- there is limited help available but you will get child benefit as well. My friend has a six year old, and her own home. She works part time and she gets single parent help with tax credits. Her ex pays some maintenance. She runs a car and she goes on holiday- she manages very well indeed. But she did buy her house when it was much cheaper. Think it all through very carefully.

Answer 4

You would have to get with a Realtor and they could tell you. It depends on how much you want to pay, and how much you want to put down, and what you want in a place to live. I take it you are from England, so it would be difficult, although I have been a Realtor before, it is just that you are in another country, so I am not familiar with the real estate prices there. I don't know what the diff. loans are there, here we have a first time buyer program and very little down, also a Veteran can get in with nothing down. It does not seem that you can afford much, but I do not know the real estate prices there. It would also depend on how much you owe, what your assets are, and your credit rating. Get with a Realtor, and get pre-qualified, then you can go look at some places. I live in California, so here the prices are higher than your area maybe. Good luck.

Answer 5

Depends on your income... both for if you can afford the mortgage and if you can afford the baby on your own. If you can afford both, more power to you.

If you are preggo, get a DNA test when feasible to establish that your partner is indeed the father so you can at least get child support payments.

If you aren't,,, get back on the pill ASAP.. you don't really want to deal with 1) no partner to help with the baby, 2) no partner to help with the mortgage --- you can do this without him, but would be harder with baby, or 3) Re-adjusting your life with baby and your own mortgage all in one swell foop.

Answer 6

Im in the same situation, It can be done but with alot of sacrifice, you have to budget and only spend and use whats needed, make sure baby always has what he or she needs , when you do find out your pregnant start by buying the necessities before baby gets here like wipes, diapers on sale diapers in differnt sizes so you will always have the formula have to wait till baby gets here. if you have ccards try to get them down now . Its hard, but your doing it for the better for you and your child.If you dont have a car loan try not to get one as well

Answer 7

WHY do people automatically assume baby's cost allot of money?

If you go all out and BUY BUY BUY absolutely everything you see then yes.

If you keep to the basics, you baby requires very little, you need a selection of items for sure but not everything, buy as you need them and the cost is spread.

My (no EX) partner started to go down that road and I put my foot down because she went silly like most women who are pregnant and throw the "You don't love your baby" argument out. Sensibility and reasoning, these company's are only after your dollar and they win each time.

Example, a baby bath towel which is half the size of a regular bath towel cost exactly the same or more.... WHY? It s still *ucking bath towel... so buy the normal one.

Why pay £800 for a push chair when Boots to a nice and cheaper one that will still last Junior up until 5year old that costs 1/10th of the price of the "Brand" named one?

JUST because you buy budget DOESN'T mean that you love your baby any less, it means that the others who fork out 100's of £'s on branded products have more money then sense and are playing the "Keeping up with the Jone's" game which is largely what the baby industry relies on.

When shopping, don't buy the first thing you see, shop around because you will find cheaper elsewhere.

If people want to buy you things for baby, let them BUT tell them what you need.

No offence but it s women and their hormones running riot that allows the baby industry to milk people, the items that you see often are very cheap and you end up paying a premium price for that item.

Example... Moses baskets, WTF are they all about? You buy one and they can cost anything from £20 to £180 and then in a couple of months you need a COT so why bother? Go straight for the COT...

Then you will see JUST how much it really costs.

Simply put, if you spend as much per week on your baby as you spend on yourself for food, you need your head searching.

The baby industry is a total rip off and it really makes my blood boil to see that they are still 60 years on pulling same crap day in day out and no one has questioned it.

ALSO When shopping, avoid going with freinds because they only put temptation in your way and often offer bad advice as they, unless they have been through it won't know jack schitt so be kind, ignore them, its about you, baby and saving your pocket and so what if you come across as scrooge, your not, your being prudent and careful.

Baby only needs... A home (Heating is optional, look at history), Clothing (they grow fast so always buy bigger than needed), Food (you don't need to buy jars of food, puree your own when weaning) and its parents love and attention. People say money as well which does help BUT if you are in a position where you are on a low or no income, theirs a welfare system to assist you, ask.

Got the picture?

Answer 8

I thought before having my son - how will I cope financially only just managing then however I found I just adapted and have managed although not exactly sure how.

Answer 9

im glad you asked this question cos we are in roughly the same situation. after reading someof the responses and a lot of thought - and looking at other peoples situations - im sure that you will manage and so will i,
good luck

Answer 10

how stupid of you coming of the pill whilst having problems in your relationship. the best thing you can do is go to your doc and have a test if the result is neg start taking the pill again. but if you are pregs your screwed