Cost of a kid are hard to calculate. Even daycare costs vary. Example, my daycare cost a little more, but they provide all food/formula, so that cuts cost, some daycares you have to provide for them.
Diapers and wipes can get a bit pricey, just buy in bulk through Amazon prime, I will ask the wife on the costs.
Another factor is what is the family situation, for me, he is the only baby on my side in the US(I have a niece an nephew in europoe), so my parent spoil mine a little bit more. He is also the only baby on my wifes side. So they spoil the crap out of him. To the point I am telling them to stop buying stuff as its become hard to keep around. I keep telling them, he wants cash for his college fund or first car fund or something.
One thing I will say, is how the market is, and your job market, might want to look into a bigger house. My wife and I bought a house that is bigger then our current needs. 2400 sq ft. But its a good house, some good upgrades. We just have the one kid. But the thought is that we will be in this house for awhile, and when we have a second or third child, we have room to grow.
I know a few people that bought "starter homes" and do to the recent collapse, they are stuck in them, and they are a bit smaller then they wanted and are VERY unhappy. They could buy a new house and be fine if they could just walk away from their current one even with no equity.
Also good houses are at cheap prices. Just make sure you watch the utilities, etc... and don't over extend. It sucked by my wife and I have been renting townhomes/single homes for about 6 years now. So we have a good idea of the costs.