- Cost? though we are fortunate enought or be able to consider this. TBH full time nursery will be quite expensive too (~£1500/month)
A nanny could cost you varying amounts depending on where you live.
It would not be unreasonable to do an initial estimate at:
8am-6pm x 5 days = 50 hours per week
x £10 gross per hour = £500 per week
PAYE Calculator gives £2386 per month, including Employers NI (2012/13 tax year).
There are then other associated costs - for example activity budget and travel whilst on duty.
I am assuming you would want an experienced nanny, rather than someone new to the job. Your full time nursery care of around £1500 seems quite low... is that a realistic figure?
- I was thinking could have a nanny for the 3 days I work but organise extra flexibility when needed or is that being too hopeful?
I think that is too hopeful. If you need them to be available 5 days per week, then contract for that. If they worked 3 days for you, then they may well get another job for the other days - there seem to me to be more part-time jobs around at the moment than full-time.
3.kids not hanging in out w other children though there will be the two of them
Your nanny could go out to various places, such as toddler groups, to meet other people with young children. They may get to know other nannies in your area. Your eldest child may already have friends, who could come over on a playdate or meet up with them at the park.
- Having someone in my house all the time/kids getting so close to one other person
In my experience as a nanny, the children (even when babies) know that I am not dad. It's a different kind of relationship... in your case you will always be mum, nanny won't replace you.
- Being someone's employer
Ever had staff under you at work? It's a business relationship, you are not friends with your nanny when it comes to the way you want the job done, in my view. You are the boss you call the shots.
PAYE need not be daunting, it's often much easier than people first imagine and there are companies who will produce payslips for you and remind you when to transfer money to HMRC (the payroll companies charge around £130 a year, though depends on frequency of payslips).
- Depending on one person entirely-what if they are sick etc
Nannies are rarely sick. Though it does happen and it is a risk. Between you and DH could you not cover short periods of nannies sickness? If your children went to nursery, you would need to cover times when the children were too unwell to be at nursery. A nanny will care for children who are mildly unwell, so common things like having a cold, eye infection, ear infection, runny nappies - the usual childhood things. Sure you will want to stay with your children if they are seriously ill but if they are just a bit under the weather, then nanny would care for them when a nursery would probably send them home (as they have to protect the other children at the nursery). Think back to reasons why dc1 was sent home from nursery/not allowed to attend nursery, especially as a baby/toddler.
- Planning leave around your childcarer
As the employer you can dictate all leave. Though it's often better if you can give an employee some choice. If you get statutory minimum then it may be tricky as you have to give your nanny statutory minimum holiday but there are two of you (you and DH) so you could arrange things so that you had some of nannies holiday time each with the children and some of holiday time all together as a family.
Some benefits of a nanny:
You don't have to get the children up in the morning... if the children have a lay in (I know, unheard of) then they can stay asleep, as nanny comes to you, rather than you taking your children somewhere.
Your nanny is at your home so can learn to use your washing machine - and wash the children's clothes and bedding. More children = more washing... I nanny for 3 children, washing seems endless!
Many nannies can make lovely cakes... or even boring sausage rolls and quiche (like I did this week).
If you do things purely on cost, then I would imagine that a nursery would be a bit cheaper than a nanny... if needing to have full-time 5-days per week.
If you can find a nanny who would do 3 days per week, plus then occasional other days as and when needed, then it could be lower cost than 5-day nursery. However I am not sure you would find such a flexible nanny... we have bills to pay just like everyone else.