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Reply to "Bigger mortgage vs. private school."
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[quote=Anonymous]OP, do you have a child in private already? If not, and you are just planning ahead, then here is what we considered: 1. Could we find a house we liked in one of the better districts (we were looking at the Whitman or BCC clusters in MoCo) at a price we could afford? 2. Did our child get admitted to a school we liked and felt was worth the investment? Our answers were 1. no and 2. yes. So we kept our DC house, packed #1 off to private school and #2 followed along when it was time. If the answer to #1 had been yes, we would have probably done that. We were moving from a house we had put a lot of work into, so we were pretty picky and a lot of what we saw needed work even at $1.25m+ asking prices. If we could not find a house but DC did not get admitted to a school where we felt it was worth writing the check, then we either would have (1) done DC public for a year (we're JKLM) and tried again or (2) looked a lot harder for a house in MoCo. You may end up with a different outcome than we did, but I think exploring both options was helpful to us in making the decision. Good luck![/quote]
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