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Reply to "Bigger mortgage vs. private school."
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[quote=Anonymous]Well, when you pay your mortgage, you are building equity. That's something you can use in retirement, or borrow against at some point. Private school tuition is an expense. The private school cost is per child. If you are sure you have one child, your numbers are Ok. But you might have to double or triple the private school costs if you have more kids. You can't count on private school tuition staying the same. You should be able to count on your mortgage if it is fixed. You are right that you could pull out of public school. But are you prepared, under financial pressure, to actually send your child to the school where you currently live? If the answer is absolutely not, then you are looking at selling your house and moving anyway, which is what you would do if you could not afford your mortgage. It's hard to compare the value of a private education vs. the public school. You need to do that on your own.[/quote]
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