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I don't think it's ridiculous to start looking early for a daycare. We put down a deposit a full year before DD started daycare. Good ones have long waiting lists.

We started looking into daycares at 20 weeks. Ultimately, we decided on a nanny to start, and we didn't hire her until DD was 2 months old (I had to go back to work at 3 months). If you're ultimate decision comes down to price, though, it's a good idea to start researching costs in your area now. You might call a nanny staffing agency to see what their overall costs normally run, since you'll want to add taxes, benefits, etc... into the daily charge for a nanny.

We started looking around week 20 at daycares, since several of the better ones already had long waiting lists for past when LO was due. We then had plenty of time to tour daycares, compare prices, get on waiting lists, and then finally (around week 30), pay the registration fee to secure a place.

We thought about going with a nanny since my husband works from home part time, but it was sort of a pain in the neck. Going through an agency was more expensive but easier (since they take care of tax implications, paperwork, background checks, etc), and hiring someone directly would have meant a financial savings but ton of paperwork to file as an employer, and time spent learning the appropriate laws.

First trimester because I knew certain daycares had a extensive wait list. ie my top choice had a 9month waiting list. So it's actually not crazy to start this early!
I suggest researching, looking up their website, some centers provide rate information on their website. Or just give them a quick call to ask about pricing.

I researched the area and got pricing, and know the ones I prefer. We're planning to start visiting them in a couple of weeks, when I'm 13 weeks along and we've made the announcement (so that DH can ask for time off from work for a day). Everybody I talked to said they had a waiting list but it wasn't as far out as May of next year -- but I'm glad I called around because now I feel a lot better and have a better idea of our deadlines!

I will be staying at home but thought I'd add in my thoughts as a former nanny - a lot of families will know far in advance that they won't need their nanny any longer. So, if you're looking at that option you might find a perfect fit with a nanny who already knows she'll be looking for a new position in spring of 2013 (because the parent is going to stay at home, moving out of state, etc. etc.). On Care.com there were frequently people posting 'wanted' ads for nannies as far as a year out Good luck!

We put ourselves on daycare waiting lists before our babies were born, but we ultimately didn't end up needing to go in that direction. For us, nanny is cheaper than Bright Horizons in our area!

We started looking around 8-10 weeks and put a deposit/registration down around 12-14 weeks I think. Nanny was too much for us, so we went the daycare route. I think it depends on your area a lot. I just wanted to be done with something, so that's why we got on it early. But a lot of the good places have longer waiting lists. Bigger cities have much longer waits I think.

@jholler25 I nannied full-time through an agency during college summers and then have done part-time and temporary nannying through Care.com in the past year when we moved temporarily and I didn't want to work professionally for less than a year (since we're moving again).

I think pricing is especially tough when you're talking about 4 days a week - I think the hourly pricing is more appropriate for one night type things. "Full time" nannying has so many other factors to consider (as a nanny) like gas reimbursement or car borrowing, meals, paid vacation, how flexible are the hours, how much 'fun money' will they be getting (I'd much rather take a job that paid less per hour but we had the funds to go to the zoo, aquarium, etc. because it is more fun for both of us!).

I would probably post a wanted ad if I were you - I think that a lot of nannies use the free version so you might not be able to see them, but they can see your wanted ad. I have no idea on pricing since I'm in the Midwest but I know there are lots of moms with their own kids who would probably be less expensive. If we ever end up needing a nanny I'd love to have a younger Mom with a similarly aged kid fill the position - I think it is much more fun for everyone! But that's just me

@yoursilverlining: BH is great (though I found it is somehow related to Bain Capital which I wasn't thrilled with)... but when I found out it would be more than the nanny, it just didn't make financial sense