Bay Area parents: Was stretching for better public schools worth it?
We have 2 young kids and own a home with a ~3.2% mortgage. Our assigned public schools are the main reason we’re considering moving.
Private school for 2 kids long term isn’t financially realistic for us.
We’re looking at homes around $1.4M-$1.5M in areas with better public schools. With mortgage rates around 6%, this would be a significant increase in housing costs.
We can put 20%-40% down, but putting more down means tying up more of our savings/investments in the house. We’re a single-income household and can qualify for the mortgage, but don’t want to become house-poor.
For parents who faced this:
- Did you stretch financially for better public schools? Was it worth it 5-10 years later?
- Anyone regret giving up a cheap mortgage for schools?
- If you stayed, what did you do instead: private, charter, transfer, or move later?
- Did anyone choose a smaller/older house specifically for the schools?
I’m especially interested in experiences from families with 2+ kids. Trying to decide how much financial stretch is reasonable when schools are the main reason for moving.
Edit:
Currently in Newark. Got assigned a very low rated (2/10 Schilling) school. Transfer request denied due to long wait-list.
Trying to move to Fremont