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Have you thought of investing the same money somewhere which has good CG potential? As long as that property increases by about 35K a year, you can afford to pay for the private school fees (35 * 80% = 28K) using the equity. 7% CG on a 500K property is about 35K. This way at least you will...

I'm not sure if you are being sarcastic or not. As a father of three, would rather outsource as much as possible and spend more fun time with kids.

If it is only one child then it may not be worth selling the current house and then buying again. However, if you are going to buy a house anyway then why not closer to the good public school?