I have three kids and one more on the way.

Having a family while on the path can be very difficult, but it also has its advantages. Don't let the childless hermits on long retreats scare you away from having kids.
Disadvantages
The first thing about having kids that I noticed-- my life was no longer my own. I could no longer play video games late at night, randomly hang out with friends, or even pursue a lot of my hobbies. Caring for children, especially when they are infants, is very, very time consuming. Your life will revolve around that child. Time for formal sitting? Forget about it. What little spare time you have will be used for sleep, because guess what-- babies wake up quite regularly in the night, and sometimes they stay up. You have to sleep when baby sleeps.
Another thing that can be quite disconcerting is that meditation will often be interrupted. Remember when you used to meditate for any length of time and not be interrupted? As it turns out, that was a luxury. This can actually be a big problem if you are in weird and whacky insight territory, and suddenly your baby starts crying. Good luck getting that sorted out, it can be a real mind-fuck.
Advantages
Metta practice. Having children flooded me with emotions that I didn't know I had-- love and compassion deeper than anything I've experienced before. This makes metta very easy. Childless meditators will never know the depths of parental love. Chalk that one up to a huge advantage.
As for more advantages... I can't think of too many. When your child(ren) get older, everyone gets on a schedule, and you can set aside time for meditation again, and arrange for childcare for short retreats.
I personally crossed the A&P and made it up to Equanimity with two kids, one of which has special needs. Don't be afraid to blur the line between "formal sitting" and "off-the-cushion life." Be mindful at every moment. Profound insights can arise at any time if you work at it. It's very possible.
I highly recommend this book about Dipa Ma to meditators with children. She was a firm believer that enlightenment was possible in any circumstance, and many of her students were "householders." One woman got enlightened just by being mindful while nursing her baby, and another attained profound insights while folding the laundry.
One of our very own here at the Dho attained first path as a stay-at-home dad.
Good luck! It's very possible.