There's a natural tendency for new parents to want to buy the best baby furniture they can afford, and a lot of that money and attention is spent choosing a crib. You may be planning a large family or have a dream of passing down a beautifully crafted crib to your child when she grows up. In the interim, you'll have to maintain and store that crib, though -- possibly through multiple moves. You may also feel compelled to lend it to a sibling or two who won't be as careful with it as you'd like. Is a crib really worth the added cost, stress and hassle?
One exception may be a convertible crib that can grow with your baby. Convertible cribs can cost as much as a crib and toddler bed purchased separately, so do some cost analysis before you decide this option is for you.