[quote=flu][quote=Hobie]Exactly. And will they take public transportation from Santee to LJ Country Day? And mom certainly is not driving from Skyranch to LJ 2x/day.[/quote]
I went through this right now with a my bosses, former bosses, 2 colleagues, 2 neighbors, and 1 friend.
Conclusion?
Most of them moved to an area with a better school district, because they couldn’t afford 12 years of private school for 2 kids (and these are double income, higher income families)…The remaining ones were very well off families: didn’t blink about shelling out $20-30k/year per kid, and aren’t thinking about trying to save $100-200k on a home purchase.
Disclaimer: I’m not a subscriber to this “overeducation” mentality…[/quote]
flu, lets do some comparison.
Similar sized homes, similar view (over estimation in favor of DH?), Santee’s lot is slightly bigger @17k vs 9k. DH HOA+MR = $203/month vs SR HOA = $342/month.
So for the sake of argument that these two homes are quite comparable in every way. Now, lets look at the price. $799k (list price) vs $1.465M (sold price). The $140/month more in HOA I think will be more than offset by the extra property tax you have to pay.
Now, lets assume you send your kid to LJCD @ $30k/yr (over estimation, it’s currently max out at $26k/yr) and you have 2 kids. Total cost of private education K-12 for 2 kids would be $720k. $720k + $800k = $1.52M. That’s slightly higher than $1.465M, but you’re sending your kids to LJCD vs Torrey Pine HS. I see comparing LJCD to Torrey Pine HS is like comparing TPHS to MMHS. They’re just in different league. A private school that’s not as good as LJCD (at least by reputation) but better than TPHS would be Cathedral HS in CV. I know someone who took their kid out of TPHS and put him/her into Cathedral. Tuition there is ~$13k/yr. So if you send your kids to Cathedral HS (and other cheaper private K-8) instead of LJCD, you can have 4 kids instead of 2. Also, a lot of the private schools I looked into for K-6 is <$10k/yr, w/ the exception of LJCD and the like.
So, the numbers work out for me (SR + LJCD) = DH + public school. Did I run my numbers wrong?
