I have 3 kids and never owned a play yard. I let my kids crawl all over the place to explore. What I do is baby proof the house - eg put table corners, make sure no small objects or wires on floor, put safety gate to my kitchen, put safety cap on electric socket etc.
I guess having the playard will ensure your child is within confine space, but as they get older, they may want to get out of it.
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