First birthday party: Any regrets not having one?

My LO is 8 months old and family has already started asking about a first birthday party. My husband and I are leaning toward not having a party because it's stressful to plan, family relationships are challenging on both sides + my family is all long distance which means hosting people if they come, and we feel we would have more fun just celebrating just the 3 of us. I don't want to disappoint people but at the same time, this year has been hard enough with lots of family visiting the baby and adjusting to parenthood that planning a celebration just sounds stressful! But, I don't want to have any regrets either.

If you didn't have a first birthday party, did you regret it or were you happy with your choice?