<prompt> Human: Hey rpersonalfinance,I just received some of the biggest news of my life about an hour ago. Im so excited, but Ill be honest, my head is spinning right now. I was wondering if you kind folks had some advice for our current financial situation:Facts Ages: Im 24, my wife is 25. Combined income: 100kyr both of us are employed full-time Savings: 60k Housing: Currently in a 1-bedroom loft apartment. Up until now, we were looking to buy a house sometime soon. Im not sure if our savings is at a point to make that viable with the upcoming baby expenses. Thoughts?Questions If we are only 2-3 weeks along, and with our current savings, is home buying still a smart option? Or should we wait? Whats the best thing I can do financially right now to prepare for parenthood? Are we going to be okay?  <response>: I would hold off on the house until the baby is at least a year old. The baby will sleep in your room the first few months anyways. If you think space will be tight you could always rent a 2 bedroom instead for a year or so. Only reason I say wait is because you dont know how much daycare will cost or if someone will stay home with the baby. You also cant predict if the baby will be healthy or not most likely they will be 100 fine but its always a worry. Also babies are very expensive at least if you wait until the baby is older you will have a grasp on what it will cost. With this said it looks like you are very good with your money and make decent money so you two will be fine. 