Move or go private?

[bornwithaplasticspoon]

The schools in our area have really gone downhill in the last few years. Due to a baby boom the year dd was born we don't really have any choice but to choose our catchment secondary which is the worst of a bad bunch. It's an extremely run down building and has high staff turnover.

If we move one mile away we would be in another LA and in catchment for one of the best schools in the county which performs equally as well as the local private schools. However, house prices reflect this and we'd need to top up the mortgage by at least 100k.

The two nearest private schools (4/5 miles away) would cost us about £70k with fees and transport. Dh is swaying towards this rather than moving because he likes where we live. However I think moving is the better option as I prefer the thought of dd having local friends rather than spread out friends and I'd rather live in the community where she attends school.

Anyone had to make this decision? What did you go with?

Move, as you will end up with a higher value asset.

We made the decision to move but our choices were different, stay and have DC attend outstanding state school, or move so we were in the catchment for the equally outstanding faith school. We went round both schools when DS was in year 5, and felt the faith school was a better fit for our 3 DC overall so moved.

Points to consider - if you move are you guaranteed to be in catchment - they do change.
If you stay, & pay for private, then you need to consider what would happen if you had any other children.

Either way it looks like you are commiting to spending a lot of money!

If you move and the popular school remains popular you are likely to recoup your investment (minus stamp duty, legal and moving costs etc); money spent on fees will be spent.

Do your sums on the costs of the private schools again.

How much is it per year at the moment, and have you allowed a suitable amount for fee increased? My rule of thumb is 5% a year.

Also, moving into the catchment may not be enough, as schools cannot always accommodate all DC living within it. You also need to check the admissions footprint (ie the actual greatest distance of pupils admitted in each category) and assess the trend. The demographic bulge affecting where you are living now is probably affecting your potential new area, so allow for shrinkage. Now what is the house price?

I agree with lala that you'll end up with an appreciating asset if you move. But what school would your DD end up in if you moved, but failed to qualify for the desirable school?