Possibility of kids. But looking in Brooklyn in particular. Our place is big enough for 2 kids now, so trying to buy something similar if needed. There is a doom and gloom outlook we have that rent stabilization or the building won’t be around forever and want to make sure we can buy something if needed similar to what we have as renters.
I’d factor in child care for your costs. Not knowing exactly where in Brooklyn you are, but I’d wager day care of minimum of $1k/month (very low end) to $4k+/ month per child. Nanny care is an option, usually starting around $4k a month.
I’d also caution about timing your purchase. NYC reality is cut throat in the best of times but recent mortgage rate swings have left a lot of people “locked in” to the places they refinanced during the early covid days. This makes new properties on the market a rarity and highly sought after. Keep your down payment as liquid as possible and try to keep the timeline on your own terms. You don’t want to be forced out of your building and looking for a new place at the same time.
My purchasing timeline in reality is probably at least 2 years out. So right now the thought is establish the saving plan. Over the next 2 years actually so the research on home ownership logistics.