If you follow my blog, my husband I have jobs in two different cities. This year, I am enjoying a sabbatical and working in his institution. I, the children and Hub are all living together (TOGETHER!!!) in the urban area where he/we work(s). It's already time to begin discussion where we are going to raise our children next year when I return to work and we continue this commuter marriage.
This spreadsheet describes our monthly expenses for rent and daycare in various arrangements. Dad works in an urban area where rents and day care are expensive. I live in a smaller town where the cost of living is lower. Rent 1 is Dad's rent in the urban area (900 for a studio, 1100 for a one bedroom, 1800 for a small house). Rent 2 assumes that we have rented out our home and I would find a cheaper apartment (500 for a studio, 700 for a one bedroom). In that case our mortgage (mort) is counted as $300, the loss we will take each month to rent it (we have a 15 year mortgage- rents can't match the monthly costs).
Boy will be in kindergarten in the fall, so care for him counts as after school care, unless folded in with an au pair. Girl will need full time daycare either in an institutional setting, or with an au pair. Au Pair agency fees AND monthly pay for the Au Pair, etc. are folded into a $1383/month cost for an au pair. More is how much more we are paying for that option over the cheapest option.
A few notes; Only "Both kids with Mom" (+/- au pair) and "Split kids" Are options on our budget. Though it is financially viable, splitting the kids is pretty undesirable as they love each other dearly and are best friends (for now).
How does this fit with your experience? Your thoughts?
Just one thought on the mortgage matter: You won't get to keep all of the rent. We have a place that we rent out, and there are always expenses, sometimes quite a lot of them, in keeping it fit for tenants. This year, the tenants last year brought bed bugs that we didn't find until after we returned the security deposit, so we have had exterminator bills that eclipsed 3 months of rent. We find we get to keep about 60 percent of what we charge for rent. In case that changes your calculations.
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