Will the contract market recover? If so when?

[DrewG]

I wouldn't call it jealousy - I personally spent the x00,000 extra on the mortgage to get into an area where decent state schools were available. That money is then recovered when you sell up.

But this is well off topic and I'm only replying because the bit in bold was inappropriate for this conversation.

Wrong in so many ways.

Why would I expose myself to the UK housing market and hope I can sell when I want to? Our money comes from our businesses, not our UK speculative housing market exposure.

There are multiple factors in choosing a location to live, not just a school catchment area. You're so against my kids schools that you'd literally move to another area.. very weird. It's only 40k for the both of them, that's 1 - 2 weeks revenue between myself and my wife.

I don't expect people on this forum to get it, plenty here claim to be senior contractors yet can't stay in, or find a contract, in a bear market.

[DrewG]

My initial comment was based on the fact I've tried to keep my spending sane even though I earn stupid amounts of money as a contractor and a concern that if you need £100,000+ a year to keep going it wouldn't take much for things to go badly.

As for the advantages of private school - meh, many universities now penalize private school students - and many of them would very much like to charge private school students full international rates (and given the financial issues about to hit universities I can see it actually being attempted).

And yet, with all that penalisation, my eldest's school still placed every single 6th form leaver into a top 10 uni across multiple countries. I doubt this trend will discontinue before she leaves.

[dsc]

Enough with the fecking private school dick contest...literally, no one gives a tulip.

Mods, can you chop the last n post about private schools or move this into general?

[PCTNN]

or move this into general?

if moved to general, can we make fun of DrewG's inadequate kids and his ineptitude as a parent that he's now trying to cover up by spending 40k a year?

[Lance]

if moved to general, can we make fun of DrewG's inadequate kids and his ineptitude as a parent that he's now trying to cover up by spending 40k a year?

£40k a year. For 13 years !!!!!

Monthly payments of £3,333 over 13 years would cover interest on a £750k mortgage, with 5% interest rates... And leave change.
That's a large opportunity cost.
Before you add in any capital growth, which conservatively is another £100k.

I think the kids would rather have the cash after they leave school to be honest...
But we're not real businessmen apparently.


I too simply bought a far more expensive house near 2 outstanding state schools.

[jamesbrown]

And yet, with all that penalisation, my eldest's school still placed every single 6th form leaver into a top 10 uni across multiple countries. I doubt this trend will discontinue before she leaves.

This is obviously a sockie. Smells a bit like Neo, massive ego, no reasonable hope of recovery.

[northernladuk]

This is obviously a sockie. Smells a bit like Neo, massive ego, no reasonable hope of recovery.

Unliked and unloved in less than 70 posts. Certainly looks that way.

[DrewG]

£40k a year. For 13 years !!!!!

Monthly payments of £3,333 over 13 years would cover interest on a £750k mortgage, with 5% interest rates... And leave change.
That's a large opportunity cost.
Before you add in any capital growth, which conservatively is another £100k.

I think the kids would rather have the cash after they leave school to be honest...
But we're not real businessmen apparently.


I too simply bought a far more expensive house near 2 outstanding state schools.

You're right, it would be an opportunity cost to WASTE a massive wedge on a house that I don't want, it's better put that time, money, and effort into a revenue generating businesses.

Why would I give my kids that money instead of sending them to school? I can do both if want. Although, I'd rather the kids use their education and access to opportunity to make their own way.

100k capital growth over 13 years is a VERY POOR investment for a house I don't want, in an area I don't want to live. Take your deposit and put it to work in a business that generates returns rather than brick and mortar.

A house is a home, it's a place you live, it's not where you speculate unless you really have nothing else going on. The minute they leave school I'd want to leave, now I have to sell (in whatever market conditions are for the time) or hold and deal with being a landlord. Even if the capital appreciation was 100k/year, that's only 130k.... that's not worth the time and mental energy to even view a house.

Are you so against fee paying schools that you'd waste your money on a house for a mere 130k return over 13 years?

7% of the UK population value private schools, more would if they could afford it. It's ok if you sit outside of that 7%.

[eek]

You're right, it would be an opportunity cost to WASTE a massive wedge on a house that I don't want, it's better put that time, money, and effort into a revenue generating businesses.

The thing Lance was comparing was using the £40,000 you spend on private education with using the same money to buy a house in an area where private education isn't required because the local (Grammar) schools are equal to if not better.

So opportunity cost was the extra interest / mortgage payments for a more expensive house in different area vs £40,000 on private education.

[Paralytic]

You're right, it would be an opportunity cost to WASTE a massive wedge on a house that I don't want, it's better put that time, money, and effort into a revenue generating businesses.

<snip>

7% of the UK population value private schools, more would if they could afford it. It's ok if you sit outside of that 7%.

Mods, can these cries for help about raising children be moved to mumsnet please?