Primary school Vs mortgage

[Fredandmee]

Hi All

Keen to get people’s thoughts on this as I honestly don’t what to do for the best…

I am currently privately renting in a borough with good primary school options. However, I worry about renting in the long run.

I have an opportunity to move back in with parents to save a deposit for a house in time for dc to move into a permanent home before secondary school. However, I am underwhelmed by the primary school options and don’t love any of them.

What would you do?

Thank you ☺️

I think the opportunity for long term security is probably the priority.

I would move in with parents and save. The most important part of your child's development is your input. School is very important but you don't know what it would be like in any school - just do your best for him and being financially secure is very important for his future too.

That's what I would do. Good luck!

How old are the children? Can you rent until they get into primary and then move in with parents? Are the two locations commutable?

I did consider this but felt the day might be really long for him as I would need to put him into after school club every day as it would be just me collecting him, where as If I was in my parents borough they have agreed to do some of the school pick ups

Absolutely prioritise your financial stability in the future. Private rental is sadly throwing money down the drain. Anyone in a position to avoid this should. At the end of the day, most children get on well at most schools. I understand why, as a society, we put so much weight on choosing a 'good school' or the 'right school's, but don't over think it too much. Plenty oft for what they believe to he the perfect school, then don't like it anyway. Definitely prioritise saving to buy. Your children will likely thrive whatever school they go to.

I agree, and if you can save up and buy a place in a good secondary school catchment, then that'll be even better - in primary school the extra support from your parents will outweigh a slightly underwhelming school - as long as it's not failing etc etc.

If you choose to move back in with your parents then ensure you make a plan (and stick to it) to ensure you have a deposit before secondary school.

Bear in mind it's only 7 years so make the most of it and use LISAs in the right investment funds etc. Don't risk squandering it all away on nonsense while living somewhere you don't want really to live.

Is there the possibility that you can live at your parents AND send your child to the best school?

How old is your child? Not at school at all yet, so no transfer issues?

You say “borough”, so are we talking London here?

did you grow up where your parents are? Is it possible that your view is being influenced by your own childhood experience?

Can you be sure that you will still want to live/work where you currently are by the time that your child goes to secondary?