I did this a number of years ago when my now teenage son was younger and while I don't regret it, it did stunt my career growth for awhile. Getting back into the job force with an extended absence from a traditional job was challenging. Someone mentioned that as long as you can explain the gap on your resume, you'll be fine. That is correct to a point but thats assuming that you'll get the chance to explain the gap. As someone who reviews resumes everyday, I can tell you that a (semi-recent) long gap in employment is a huge turn off. Of course that's a blanket statement, but you get the point. One other thing to keep in mind is what your kids might be missing out on if you take them out of daycare. I'm in a situation right now where I pay $10,000 a year for daycare. My mother in law just retired and offered to take care of my son. While I could certainly use an extra 10k in my pocket, I really like his daycare and the prep they give him for school. I know that many day care centers are different, but if you've got a good one, that might weight in your decision as well. My advice is, if you choose to stay home, think about some sort of part time job to eat up any gap in employment that would occur. Even a long term, part time job will help. I used to manage a retail chain and I almost always employed a couple of people who only worked 1 or 2 days a week. I had one woman who worked for me for 3 years who only worked Wednesday nights. It fit our need and hers. She was an older student (she returned to school in her 40's) and she wanted to maintain employment through out her schooling (to avoid the gap). That might be something to think about.