How much in savings to start?

adoptionready

HI everyone! DH and i finally decided to proceed with a private  domestic infant adoption in New York. We are excited to get things started but we are not even close to being done saving for the adoption.....(we have spent so much already in IF treatments). I know the adoption can take a very long time, so like i said, i want to get moving but i also want to be prepared. How much in savings should i have before doing my home study? Thanks! 

beachybride10

We don't have everything saved, but are starting the process.

Everything isn't due at once. First due is our application fee. Then the home study fee is split into two payments. After that, we don't owe anything until Match. Then the last big amount is due at placement.

maryoosa

It depends on the agency. Ours broke payments down as follows:
1. Registration
2. Homestudy startup
3. Homestudy final
4. Domestic Program Fee
5. Matching Fees/admin fees/legal-at match
6. Final Placement fees (due days before due date)
7. "extras" (in our case this was an extra 3 hours of birth mom legal, and a therapy bill for  9 months of her private therapist)
8. Post-Placement "Supervision Fees"

So, it all went out in about the space of a year- We registered in August 2012, our son came home in July 2013 and we were still paying bills until October 2013.  We're also still "on the hook" for a hospital bill that went to our son's birth mom instead of to us, but she hasn't ever sent it to the agency.

KezziRiv

all of what PP posters said! Plus, for us we had also spent a huge amount in IF treatments and were thinking we would have YEARS to wait so we weren't worried. In our case we wound up spending the whole shebang in less than 7 months… something to keep in mind.

adoptionready

Thanks everyone! We are not using an agency so i was nervous to start without a huge chunk in savings.....i guess it will all work out!!!! Thanks!!!