Would you rather spend money on private education for your children, or gifting them with a mortgage free house?

[Amyk01]

My husband and I are not wealthy by any means, but are fortunate to be mortgage free meaning we save the vast majority of our income. We are planning what to do with the money we are saving, and can’t decide whether it would be more beneficial to:

1. Spend this money on private education for our 2 children throughout primary/junior with the hopes of them getting into the local grammar for senior. Should they not get into grammar, it would be private school for senior too.
2. Send them to the local state schools (which really aren’t all that great), and after university gift them with the money we have saved in private school fees to allow them to purchase homes mortgage free?

I have looked into private school fees and I’m confident that with our income we would be able to afford it. My feelings are that with private education, our children would ‘hopefully’ turn out to be very well rounded individuals which will stand them in good stead for life. Where as the mortgage free home would ensure they don’t have any significant financial worries for the remainder of their life. Each has its pro’s and con’s but I’m not sure which route to take?

Education. Thats for life, a house may not be

Education every time. It’s not just the education but the access to extra curricula activities and general opportunities. It shouldn’t be the case but in life it’s who you know a lot of the time.

Oh no, you said 'gifted'! 🤣

Sorry it was 'gifting'. Still.......

House house house house

Speaking as a parent who's kids went to grammar schools, did very well and went through uni, I still can't see them getting on the property ladder. Even with all the advantages of an excellent education.

Once their housing needs are taken care of they have the rest of their lives to pursue whatever dreams and aspirations they may have.

Ps a good friend of mine went to boarding school, she's a hairdresser.

Her sister works as a legal secretary

Her brother joined the army

I’m not convinced about paying £15k+ per child per year is worth a few extra curricular activities.

That you can pay for separately outside school.

And as for “extra opportunities” I’m not sure a super selective state school for example provides any less opportunities or networking opps.

Having attended private school myself, like.

Spend it on their education and give them the best chance to get out there and earn their own money.

I know someone who received both and I personally think having the mortgage free property meant they are in a job which is well below their ability and education. They enjoy their job and it means they work from home a lot but they probably would have achieved more career wise had they had a mortgage to pay!

If I had the choice for my child I would do private education and help with a deposit.

I'd go down the education route.

Private education, by a mile. No one can take that off them.

Are they similar academically? Just to throw a spanner in the works, what happens if one gets into the free grammar school and the other doesn't? You said you'd pay for private schooling at secondary level if they didn't get into the grammar school school place, in which case does the other one get extra cash towards a house? It's tricky trying to balance it between more than one child if they can't have the same because you can pretty much guarantee someone will end up feeling hard done by.

Private education.

The mortgage free house is a nice idea but hopefully you will live a long life so they won't benefit until they are too old to appreciate it!!

Education. Get them the best education you can and they will hopefully be able to buy their own house.

Clearly don't do it if the state school is better or the same as the private options. However If the private options are better go with that.

And to be fair I would pay for secondary school before I paid for primary, if I had to make a choice between the two.

But on a simple question if I had to invest in a better education or a home, I'd pay for the education.

What is it they say? Give a man a fish, you feed him for a day. Teach a man to fish and you feed him for a life time.

Can you do both? BTL with the income funding private school?

This!!

Use the money to invest in a house that you let, and use the income to pay the private school fees.

Part of a mindset that says, why do I have to choose. Find a way to achieve both. If that means seeing a financial adviser, do it.

I am also at private school turning out more rounded individuals. That's a judgement, not an objective observation, and it isn't necessarily correct.

House. If they are bright, send them to the best state school where they can thrive if they choose to. Private education does not equal a well rounded individual with a good job!

You are wonderful parents and either way your children will be grateful but with the house prices ever increasing I wonder if my children will ever be able to afford one, even with a good paying job.

I’ve used both a state comprehensive and a leading public boarding school. I can say without hesitation that the comprehensive educated children had ‘ the more rounded’ education. There was much about the comp that was better. Academic achievement was probably slightly better from the comprehensive but all did well so no issue with either. The state educated ones have more drive and determination.
You really can’t judge a school on its exam results- not least independents are highly, highly selective whearas comps are, well, comprehensive.
I’d give the house every time.

How important is it that they earn well as a result of private education? It’s not always a given, given this choice you are facing would you feel you should have bought the houses if they don’t

Why do people assume that you can only get an education in private schools? That attitude drives me insane.

I went to a state comp which could only charitably be described as bog standard. My first exposure to the products of private ed was at uni. The difference in their confidence, who they knew, and the opportunities they’d had I found quite shocking.
As a very bright child I did well academically but god knows what my life would have been like if I’d been encouraged and been surrounded by the attitude that yes of course you’re going to uni, rather than being laughed at by the school for it.

I’m sure there are state schools out there that are on par with private schools, but not many. And the social advantages- who you know, people you network with, is immense.

It shouldn’t be this way, but it is. If I was back in the uk I’d be pulling out all the stops to go private.

Ps a good friend of mine went to boarding school, she's a hairdresser.

Her sister works as a legal secretary

Her brother joined the army

And your point is? I have paid school fees and consider the three careers you mention as perfectly good options for DC.
I just want them to be happy and fulfilled and that's a big ask
As pp says, home ownership can be a headache. Education sets you free.

I'd go private for secondary, not primary.

The difference in their confidence, who they knew, and the opportunities they’d had I found quite shocking.

^^

This with bells on.

House.
My friends parents sold a house they had inherited to send her to private school.
She works three days in a cafe. Her house is worth £150k.
House that was sold around £300k.

My friend (went to private school) who did her PhD at the same time as me (went to multiple awful state schools) works on the tills in a supermarket. I think she would have appreciated the safety net of a home much more than she benefitted from the private education.

Life is about more than how much money you can make. If you don't have to think about making lots of money you can find your own path. If I had my own house now I would be writing novels rather than lectures and marking, I would be much happier.

Any won't agree with me but I would go education every time. Give a child a fish and all that.