Childcare Costs Post Reply

[SophieBalham]

Hello,

My partner and I are looking to have our first baby in the next couple of years. We are also currently in the process of moving house and reviewing our mortgage options. Before we commit to a large mortgage we're trying to get an understanding of the childcare costs we should be factoring in for the future.

Looking past the initial year with mat cover, what type of childcare costs should we anticipate if we were to both work (be it full or part time).

Nursery/ childminder / nanny fees etc...

Any advice welcome,

Thanks in advance!

[Lepresidente]

Sorry to say childcare costs are nuts !

Nursery full time ( before 15hrs free childcare) can easily be £27-30k a year with someone like Bright Horizon or linden Tree . More than private school.

Once they hit 3-4yrs old you can get the 15hrs per week free govt funding available to anyone . I believe they may have dropped this to 2yrs old now but must be both working parents . This does help a little .

Childminders are cheaper than nursery settings but not substantially .

Nannies depends on live in or live out but assume live out then £17-20 hr gross. Depends on the contractual hrs but £13k-30k range depending on hrs which assume range between 3.5-7hrs a day. That includes pension costs & some additional costs. You’ve also got to build in holidays for the nanny and childcare provision over this period.

Good luck