Would you sell a second home to fund private education for your kids?

[Correlation]

Just that really. If this was your situation, would you sell the second home? The children would either have private education and university paid for, or a flat to split between them as adults..

It's not as straightforward as state versus private education. Some state schools are better suited to some children than a private school. Some private schools are ludicrous places, more luxury goods than education.

I'd put the money into property which becomes available to them when they're finished education and working. Private school =/= high paying career. If you cover the cost of their post education housing they could follow a career they truly love rather than having to follow a career which pays well in order to afford secure housing.

If the only local options are dire this does change things, or course.

"They’ll get an education either way. It’s not like they’ll be sent down the mines"
Not really - at the school I went to, more students ended up in prison or the morgue by age 20 than a top 10 university.

"Some private schools are ludicrous places, more luxury goods than education."
This is true - some known to me are run as country clubs with academic provision little different from a slightly above average state school, but extensive leisure facilities.

For secondary, no.
For university, yes and we did.

Depends on how good the local state school is, and how good the private.

Depends entirely on the schools themselves. We have one in state, one private, both coming to the end of their school journey. The private is a top 20 school in the country, the state, a good London comp.

Of the two, I am happier with the comp. The private gets good results, but that is because the girls push themselves so hard. It can be an intense and competitive environment, which compounds adolescent issues. It is also dominated by rich families (this week’s parents noticeboard was asking if anyone could recommend a chef, and also offering a holiday home in Capri for the summer). Although there are some normal families there, they are outnumbered by corporate lawyers.

The comp is much more balanced and supportive and frankly normal. They have totally understood DS’ special needs in a way that the privates visibly recoiled from. He is on track to do brilliantly in his GCSEs, and go to a great sixth form without the emotional baggage from the private.

So look with an open mind. There are definitely some schools I would not send my kids to, but paying is not always better.

No. We could have afforded private schooling for our DC but chose not to as we have excellent state schools nearly and I also fear that would end up with an entitled attitude to life. Both have ended up at top 5 Universities anyway so I glad we chose not to.

Oh, purhlease.....!

If you sell your second property to pay for private education you'll have to pay capital gains tax and, presumably, VAT on the school fees.

If you have a large enough estate for IHT to be an issue then you can afford an accountant to help you minimise your tax bill at death.

There is no evidence that if you equalise for family income children do any better in private vs state education. And if you can afford private education then you have the funds to move to the catchment of a good state school so all the talk of grotty schools is nonsense.