Doing things the "right" way

So we all know the "traditional" or "right" or "expected" way to do things is to get engaged, married, move in together and  then have babies. My boyfriend is 27 with a full time career in law enforcement. I'm almost 25 with a full time career in law enforcement and a bachelors degree. We live together and own a 5 bedroom/2 bathroom home. Well, we pay a mortgage so I guess we don't own it yet. We aren't engaged or married but we have decided we want a baby. He wants it. I want it. Mutual decision. Should we be worried that we aren't married or care what anyone else has to say about the fact we aren't married. We have discussed marriage and we want to get married but a wedding a such costs money, money we don't have right now and we are really excited to be trying for a baby now. We have even discussed eloping at the court to have a marriage title and having a fancy wedding later on for family and friends. I guess my question is asking the opinion on whether we should wait and have a wedding or just screw it, do what we want and have a baby and elope.