Can I afford University Park/HPSID? (Coppell, Alto: rental market, home, middle school)

[racehorse]

Yes, plenty of very bright, successful people had great educations that were not the absolute best available. My company is run by executives from across the educational spectrum, many of whom went to second-tier universities.

[Cowboys_Fan2010]

Originally Posted by TennStud

In my case you need to remember I have 3 kids. If I put them in private that's 40-60 each year with the cost of tuition going up every year. At least
my house payment will remain the same and interest is tax deductible. Also I can sell the HPISD house once all have graduated take the profit by moving out of the district.

It sounds like you have yourself convinced to live there and just want others to reinforce it. I wish you luck, only you know what's best for you and your family.

[lh_newbie]

Originally Posted by TennStud

In my case you need to remember I have 3 kids. If I put them in private that's 40-60 each year with the cost of tuition going up every year. At least
my house payment will remain the same and interest is tax deductible. Also I can sell the HPISD house once all have graduated take the profit by moving out of the district.

Two things:
1. I didn't say anything about going to private schools. I meant going to a good (but not top-rated) public high school. Save that $40-60K each year - instead of paying for private primary schools, put $15K per year into a 529 for each child and $15K into your retirement plan for you. It is my belief that this money would be better spent there.
2. You're assuming you're going to make a profit. Have you not watched the RE market over the last few years?

[lh_newbie]

Originally Posted by racehorse

For me, some combination of A and B. I'd actually keep doing some kind of work in retirement. I think it's good for you. And I see no reason why an adult child can't pitch in to help pay for their own college education.

Fully agree - when I say retire, I mean that I'll probably spend a lot of time volunteering at causes I enjoy, like Habitat for Humanity. Regarding the adult child helping to pay for their own college - I also agree but my wife wants our child to be able to get out of college debt free and have most of her time to focus on studying. Trust me, it won't be a free ride if she doesn't take it seriously - and if she wants to go to a private college or out-of-state, she foots the difference in college bills. We'll pay for an in-state public college.

Brian

[racehorse]

I'm with you Brian, although I have to say I had a work-study job in college and it didn't seem to hurt my grades at all. I also expect my children to work in the summers to help pay for their tuition. And we help with state schools. Luckily in Texas, there are some really good state options for motivated kids.\

I can't see spending $40K+ on private tuition for three kids. I don't think someone who earns $200K really has the cash for that and a reasonable standard of living. In the OP's situation, I'd be finding a great school district in an inner ring suburb and putting my kids in public schools.

[TennStud]

We would consider another public system if the commute wasn't too bad. My mention of "profit" is really just getting back the initial price of "paying in" to get a house in the district. If I sold it down the line (12-15 years later) my guess is moving into a similar house outside of the Park Cities would be alot less and I could pocket the difference or apply it to college tuition. Does that make any sense?

[TurtleCreek80]

Originally Posted by TennStud

We would consider another public system if the commute wasn't too bad. My mention of "profit" is really just getting back the initial price of "paying in" to get a house in the district. If I sold it down the line (12-15 years later) my guess is moving into a similar house outside of the Park Cities would be alot less and I could pocket the difference or apply it to college tuition. Does that make any sense?

Depsite the r/e market of the last 2 years, homes in the Park Cities have doubled in value every 10-15 years or so since the 1940's. If you planned to move in & hold for 10+ years to get all your kids through, you would have about a 90% chance of making major money on the purchase. That's assuming there isn't a world financial collapse....but then we'd all be screwed.

[lh_newbie]

Originally Posted by TennStud

We would consider another public system if the commute wasn't too bad. My mention of "profit" is really just getting back the initial price of "paying in" to get a house in the district. If I sold it down the line (12-15 years later) my guess is moving into a similar house outside of the Park Cities would be alot less and I could pocket the difference or apply it to college tuition. Does that make any sense?

With that timeline, yeah, I can see at a minimum getting your entrance fee back. Sorry if I'm being hard on ya - I see things a bit different than the main stream and like to challenge folks thought processes. Not that I'm right and you're wrong sort of thing.

When are you coming down? I'd love to hear a follow up once you do some tours and make a final decision + make that move to purchase a place. We don't get many follow ups from folks on the forum.

Brian

[loves2read]

what some people have missed in the past few years is the increase in college tuition at a second tier state school like UNT--
those schools are VERY expensive--even if someone enters as junior coming from TCC or DCC
just be prepared for more sticker shock in 10 yrs when your children are ready for college

[Squirl]

Just a thought!

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