Congratulations!! I guess I will share my "new baby" story (who just turned 21) because it might help you sort through the hype of what you "HAVE" to have an to not feel badly if a nursery with all the bells and whistles doesn't fit either your living space or budget.
When we were expecting DD we lived in a teeny 1 br apartment in San Francisco. We anticipated moving within a month of her birth so didn't want to buy any big furniture or a lot of stuff we'd have to move across country right away. Little did we know how complicated her birth would be (she was 3 weeks late) or how disabled I'd be (I had a systemic blood infection and broke my pelvis during the assisted delivery). We ended up living in that teeny apartment with a baby for 4 months before moving to a small, 2br apartment outside of Boston. The stuff we bought to prepare for our new baby was a compromise on space, finances, shipping, and out of medical necessity (as I couldn't walk independently after giving birth for about 6 months).
We didn't purchase a full-sized crib at first as there was no space in our apartment. Instead, we got a bassinet for her, and I personalized it by making a skirt for it. There also was no space for a changing table or bureau in the apartment. I bought two hanging shelf units that we hung in one end of the closet, and that was plenty of space for her clothes. We purchased a few outfits in the newborn, 3 month, and 6 month sizes, not knowing how big she'd be at birth. She ended up weighing 10 lbs and was 24" long! Fortunately, we'd not washed the new clothes and had kept the receipts, so the day after DD was born my sister returned the too-small clothes and bought some more of the larger sizes, and then washed everything before DD and I came home. We also had purchased a changing pad and used this on top of a baby quilt on our bed- in the middle of the bed, never leaving her alone- as a changing/dressing table. One thing we made sure to buy was a Diaper Genie. I don't know if they still make these, but the one we had individually wrapped each used diaper and stored them in a long, wrapped, twisted chain. It really kept the nasty smell confined- VERY important in a small apartment! We didn't have a baby bath tub- I just bathed her in the kitchen sink, with a sponge liner to soften the sink and protect her from head-bops on the sink edge.
We purchased a car seat- one of the ones that was supposed to be for infants when facing to the rear and then for the older baby, into toddlerhood, when facing front. I know that car seat laws have changed since then, so this info might not be relevant, but that was a mistake. An infant really needs an infant-sized car seat, so we purchased a smaller seat and shipped the larger one to my mom's house. We also didn't get a high chair- we fed DD in one of those infant carriers (like a car seat) that could be propped into an upright seated position, and also bought one of the seats that has longer arms and can be hung right on the edge of a sturdy table. We also had a "boppy" which is a cushioned, fabric covered ring that acts like a "chair" for babies to prop up in before they are strong enough to sit on their own.
We made all of these purchases based on the available apartment space and our budget. At the time, I was a little sad that we weren't preparing an amazing nursery for her, but it really didn't matter. We had our snug little home with our snug little bug and everything worked out fine. Once we moved into a bigger apartment, we purchased a walker, small crib, high chair and bureau at a department store or Goodwill as we knew we'd be moving within a few years. Two years later, when we purchased our own house, it was much more fun (and affordable) to create her own special bedroom with new furniture/decor that fit both her and our home. She remembers that first bedroom in our house, and still uses the dresser we bought for her waaaay back then.
Buy what you need/can afford/will fit your space. Remember that none of it is really important, and will pale once you bring home your beautiful new baby!
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