We are considering doing exactly that as a family (me, as the mother and lower income earner, staying home once our youngest is in kindergarten). For us, there are a number of factors that have lead us to this direction:
- Living in Canada, I was at home for 13 and 14 months respectively on maternity leave for both kids. They only started daycare at 12 months old.
- We have high quality, government subsidized daycare in my province (Quebec). It started off as $7/day but has now shifted to an income-based model, so we pay $20/day per child. Even with my mid-level salary, daycare eats up less than half of my take-home pay. Plus the kids absolutely love it there. Excellent teachers, curriculum and food.
- I love the idea of being a SAHM when the kids are in school because I feel that's when they will need me more emotionally. Like the OP and others have said, this is the time they will actually remember, and I want to be as available to them as possible.
- Once school starts, there will also be additional time pressures on the family with extra-curricular activities and daily tasks like homework supervision and making lunches. Having a SAHP eases this burden.
- I'd love for my kids to be able to take the bus to school (as opposed to being driven-in to attend daycare), and to be a parent volunteer in the school.
- The bottom line (literally and figuratively) though, is that DH is now making a very good salary, so that, combined with MMM values and lifestyle choices, makes this option financially feasible for us.