Hi C.,
This is an important decision that is best made ONLY by you and your husband. I would advise you consider how anything anyone says here and in your extended family and among your friends "fits" who you are as individuals and as a couple.
That being said, I am happy to tell you a bit about my situation. My husband and I were blessed with 3 sons in 4 years. We love them very much. Because we have a family of five and family is important to us, we spend more time together doing "family things". We are busy but in a happy way. I could not imagine life without our third child. But, as my husband says, when you have the third child, you go from "man to man" to "zone" defense. You and your husband will frequently have two or three kids with you, instead of as much one on one time with each child.
You will not, of course, be as mobile as you are now without an added layer of stress. The baby's needs will come first for a very long time and some folks have gotten past really wanting that by the time their other kids enter the school age years.
This would be a great opportunity for your 5 and 7 year olds to be older siblings to the baby. They will grow in love and maturity from this and will become more giving and compassionate individuals, if you encourage their help.
Of course there is the incredible amount of joy and love another child will bring. Your whole family will become more joyful because of him or her.
My husband and I love our family and life as it is. I would recommend you and your husband have many conversations over all aspects of this decision AND allow some time for personal reflection and, if inclined, prayer. If you decide to have another baby, you will then go forward with a ready and open heart.
Good luck!
J. B.
Parent Coach