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Private school or bigger house?

(302 Posts)
joric Thu 21-Jul-11 18:05:00

Less AIBU more WWYD....

Will keep it short...

60/70k will put DD through private school and we would stay in our modest house
or
we could increase mortgage by same amount and buy a similar standard of house in better area with v good state school nearby.

WWYD?

joric Thu 21-Jul-11 18:06:27

Sorry..!!
OR
Buy bigger house in area we live in now which has ok ( not great) school nearby.

PonceyMcPonce Thu 21-Jul-11 18:06:30

How many dc?
Have you visited local state schools?
Have you visited local independent schools?
Does that allow for two salaries?
Do you have the cash now to invest or are you assuming you can earn it as you go along?

soverylucky Thu 21-Jul-11 18:07:21

Message withdrawn at poster's request.

worraliberty Thu 21-Jul-11 18:08:53

How on earth did you make a mistake like that? Your correction isn't even similar Lol!

AuntiePickleBottom Thu 21-Jul-11 18:10:32

how i looked at it, is what would you do if your or OH lost there jobs....would you have to take her out of school.

MorticiaAddams Thu 21-Jul-11 18:11:48

worraliberty I think they were adding a third option not changing the second one.

I would go for option 2.

joric Thu 21-Jul-11 18:12:18

1 dc
Visited local state Sch. sad
Visied state school in more expensive area smile
Visited private school smile smile
Would be able to afford private if we stayed in current area - 1 wage
Wouldn't be able to afford private sch and bigger house in current area or new house in more expensive area on one wage
No current mortgage so 70k would be mortgaged.

ImperialBlether Thu 21-Jul-11 18:13:11

Go to the best area you can and send her to a good state school. If you can send her to a grammar school, all the better. The house doesn't matter as much as her education; there's no point having a big house and a poorly educated child!

joric Thu 21-Jul-11 18:13:22

No, there are 3 options!

spookshowangel Thu 21-Jul-11 18:13:52

option two for me, bigger house is an investment as well as giving you all space etc plus being near good school.

Malcontentinthemiddle Thu 21-Jul-11 18:14:09

bigger house.

Itsjustafleshwound Thu 21-Jul-11 18:14:15

Sorry - how old is your daughter??? Round here 60/70K will only buy about 4/5 years of private school (just!!)

Personally - I don't think this isn't an easy question to answer - there are lots of variables ...

Fairenuff Thu 21-Jul-11 18:15:22

We did option 2.

If you pay for education the money is gone (with no guarantee that your DC will do any better academically)

If you buy a house near a school that you are happy to send your child to, not only will you still have the money but it will grow, so it's an investment.

Eventually you will be looking at university education (presumably) and that may well be where you might need to use the money.

joric Thu 21-Jul-11 18:15:44

Moricia ... I'm leaning towards option 2... Better area, mortgage, good state Sch.

knittedbreast Thu 21-Jul-11 18:16:00

bigger house. every time

twinklypearls Thu 21-Jul-11 18:17:23

Bigger house, especially if near a good state school. No brainer for me.

I might pause if I had a child who may be in a bottom set but otherwise state all the way.

joric Thu 21-Jul-11 18:17:44

Faire- that's why I'm in a dilemma ... Any regrets?

wordfactory Thu 21-Jul-11 18:17:53

So are the three options.

1. stay put and pay for indepnedent school.
2. By a bigger house in your current catchment which has poor schools.
3. By a more expnesive house, though not necessarily bigger house in an area with better schools.

worraliberty Thu 21-Jul-11 18:18:02

Oh right I see!

I'm not really sure. I'd probably go for the good state school.

There's no guarantee your child would learn more in a private school anyway.

PonceyMcPonce Thu 21-Jul-11 18:18:54

Bigger house, better area, nice state school and top up with tuition if necessary

TartyDoris Thu 21-Jul-11 18:19:09

If you only have one child, go for private school every time.

Houses are not a good investment at the moment, or at least not as good as they have been.

joric Thu 21-Jul-11 18:19:37

Twinkly- no the house in better area is no bigger than the one we live in - 70k to move nearer to better Sch- more expensive area

Fairenuff Thu 21-Jul-11 18:20:00

Also, with private education, it's not just the fees. The uniforms tend to be more expensive and you have to have all the kit for all the different sports. There will no doubt be musical tuition, etc. as extra curricular activities. Then there are all the school trips.

School fees go up every year or so. Once you start, it's a massive financial commitment so if you are considering be sure it's best for your family.

twinklypearls Thu 21-Jul-11 18:20:18

You are then limiting yourself to only having one child, I find it very sad when people would rather a child did not exist than have to experience the state schools that most of us attend anyway.

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