Author Topic: Move away from grandparents or private school  (Read 2073 times)

EverythingisNew

  • Stubble
  • **
  • Posts: 122
Move away from grandparents or private school
« on: March 12, 2019, 01:37:23 PM »
Please advise me! We are completely confused about what to do.

My husband works from home in tech and makes a good income. I also work from home part time in tech support. We have 3 kids and our oldest is starting Kindergarten this Fall. We live in a working-class suburb of Houston. My parents live here too and I grew up here. My parents watch the kids every Monday so I can work and they take them to sports twice a week. It's a big help and the kids love them!! We pay for preschool 3 days of the week so I can work too.

We have a big beautiful house, but the area is so shitty! If I didn't grow up here, I would have never moved here. There are low income apartments and crime. Our little neighborhood of big older homes is wonderful, but right outside is homelessness and vacant shopping centers. The elementary school that we are zoned to is very poorly rated. We already decided that we aren't sending our daughter there.

Now we have a problem, because we got used to the big home and with 3 kids and 2 adults working from home, it feels like we need the space. We are always at home and use every room in our 5 bedroom house. This home is only worth $300K because of the bad area. We found a private school to send our daughter for Kindergarten at $11K a year. It's very nice, but with 3 kids, we will eventually need to move for better public schools. Should we move now? If we moved we would have to pay more for the same size of house in a better area.

We have been able to save a lot of money living here. The preschool is wonderful and only $600 for 2 kids. My parents watch the kids for free on Mondays and we have never had to hire a babysitter. We have over $1M saved. We both enjoy our  tech jobs working from home and don't want to retire until the youngest kid goes off to college 2036. Sometimes I don't know the purpose of saving this money. Especially when I see my friends living in nice suburbs, I wonder why I'm still in my crappy hometown.

Should we spend $500K on a similar size house somewhere that is not Houston (haven't decided where) or pay $11K for private school? When I calculated it was cheaper to do the private school for 1 kid, but once 2 kids where in private school, then it was cheaper to move. I am also worried about our home here going down even further in price. We bought it at $325K in 2014. Hurricane Harvey destroyed many homes in this area in 2017 and now there are a lot for sale, vacant homes and more crime. Homes are selling for under $300K and are on the market for 6+ months. Also we could flood again, since homes here flood frequently... there have been 3 big floods in 20 years. Could prices go lower? I will be sad to leave my parents, but I don't want to be the last one jumping ship here.
« Last Edit: March 12, 2019, 09:14:58 PM by Lago »

SunnyDays

  • Magnum Stache
  • ******
  • Posts: 3489
Re: Move away from grandparents or private school
« Reply #1 on: March 12, 2019, 05:32:45 PM »
Personally, I would be inclined to stay as long as possible, since you love it and it works well for you.  And your kids are near their grandparents, which counts for a lot.  How bad can the schools be that you need a private KINDERGARTEN?  (You know it's not mandatory, right?)  Are you talking academics or basic safety?  If the former, I would keep them all in that school until the school can no longer provide adequate curricula and then move.  This would save you lots of money since you're not paying high private school fees and will continue to get free babysitting from your parents, and offset any loss on your house at that time.  Maybe you could rent it out if you buy elsewhere and have an additional income stream.

RFAAOATB

  • Pencil Stache
  • ****
  • Posts: 654
Re: Move away from grandparents or private school
« Reply #2 on: March 13, 2019, 12:40:38 AM »
How much is a full 13 years of private school from Kindergarten to high school?  Multiplied by three how much of your over million dollars saved is that going to take out?  If you pay as you go, will investment gains take some of the sting out of the tuition?  Considering you have enough money to do this my advice to you would be different than usual.  Would you move if the schools weren't an issue?  That should be a big clue on if it's worth it.  I would be very wary of giving up easy grandparent assistance.

While you're worried things could get worse, is there a likely possibility things could get better?  Are there any signs that gentrification will bless your surroundings in the next decade turning low income housing into luxury condos?

Also, what's the college savings plan times 3 look like?

Here's to paying for at least 51 years of education! 

Imma

  • Magnum Stache
  • ******
  • Posts: 3193
  • Location: Europe
Re: Move away from grandparents or private school
« Reply #3 on: March 13, 2019, 03:05:05 AM »
I would be concerned about the flood risk. If your area has flooded several times in recent history, it will flood again and weather is getting more extreme.

Do you have any idea where you'd want to move? Would that be very far from where you are now? If you would move an hour or something away, you could keep the childcare arrangement with your parents. You'd spend more on fuel but that's cheaper than daycare. I grew up with my grandparents in my life on an almost daily basis and I'm really glad I did.

If the area is going downhill, would your parents consider moving as well?

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 8569
  • Location: Norway
Re: Move away from grandparents or private school
« Reply #4 on: March 13, 2019, 03:07:07 AM »
With the climate changes, you can count on flooding becoming more frequent. If your community is not actively taking measures against it, I would move out while you still can for a good price.
Sorry for that your house has lost some value.

Dee18

  • Handlebar Stache
  • *****
  • Posts: 2209
Re: Move away from grandparents or private school
« Reply #5 on: March 13, 2019, 07:00:02 AM »
I think you should just decide whether or not you want to move.  There is no best time, but if you really want to move (and it sounds like you do) why wait?  And as others have suggested, flooding is likely to get worse in the coming years. 

Hirondelle

  • Handlebar Stache
  • *****
  • Posts: 1598
Re: Move away from grandparents or private school
« Reply #6 on: March 13, 2019, 08:21:45 AM »
As Imma already notices, to me it would also greatly depend on how far you'd have to move. Are we talking a few blocks away, the other side of the city? A 2h drive? How far are the areas that you are considering? How far is the closest 'acceptable' area? Are you planning to go for just any improvement or are you trying to go from 'your crappy hometown' to upper middle class suburbia (if that's the case: be prepared for a culture shock).

MayDay

  • Magnum Stache
  • ******
  • Posts: 4953
Re: Move away from grandparents or private school
« Reply #7 on: March 13, 2019, 08:31:01 AM »
Are your parents committed to staying in the area?  If you leave, would they consider following?

I'd probably stay for 2-5 more years (until the youngest gets into K).  Having help is huge.  And really your kids will be fine in the public school for a few years. 

OTOH if you are worried about flooding, I'd sell ASAP!  Which.  I would be worried about flooding.

Annie101

  • 5 O'Clock Shadow
  • *
  • Posts: 57
Re: Move away from grandparents or private school
« Reply #8 on: March 14, 2019, 10:48:19 PM »
 I have not read all the replies, but I would definitely give the public school a try for kindergarten . If it's horrible you can always move later. I was ridiculously nervous about the school we are zoned for, which is low income and has very poor ratings and test scores. However it has turned out to be a wonderful school and we  no longer want to move.   We currently have a second grader and a kindergartner.   The reviews really don't tell the whole story

Tuskalusa

  • Bristles
  • ***
  • Posts: 442
Re: Move away from grandparents or private school
« Reply #9 on: March 16, 2019, 11:28:30 AM »
I second the idea of at least visiting the school and giving it a try. Test scores and ratings dint tell the whole story. Also, check out Great Schools and look at the parent reviews. Lots of schools that score 5 or 6 can still be a good place for kids with engaged parents.

 

Wow, a phone plan for fifteen bucks!