Swing - an absolute life saver - could not live without it - meant DH and I could have dinner together rather than 1 of us holding DS when he was grumpy btw for cheap swings regularly check out Toys R Us catalogues - we got a great fisher price one with music and lights at half price.
Port a cot - we go to in laws and my parents house a lot so it's great for him to have somewhere familiar to sleep.
Lots of little cloths for spills / burping etc
A comfy chair that rocks
Lots of grosuits especially Bonds wondersuits
Grobag sleeping bags (DS has loved them since about 4 weeks of age)
Thermometer - always important to have one handy.
A play mat / activity centre
Things that were unnecessary:
Fancy outfits - nice to dress up in for a special occasion but most are a pain to get on and off and they may only get worn once or twice.
Any outfit that doesn't allow easy nappy access
Wraps and bunny rugs: useful for most but not for us - he hated wrapping, preferred sleeping bags plus he overheated so easily that anything more than muslin was too hot for him.
btw It's easy to see a cute outfit and buy it without thinking but think about the size and what season it will be when your bubs will fit the size. We got given things that he will not wear simply because it'll be too warm for him when he fits them.
Baby shampoos / bath lotions etc - In the end all we use is baby sorbolene.
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