I have heard both the good and bad with homeschooling. My MIL is now homeschooling hubbys younger sister and she loves it. My sister in law is very shy so this was perfect for her. I was a little hesitant on agreeing with it at first, but she does go on field trips and such with other homeschooled kids. Hubbys close friend was also homeschooled and they are very smart. I think it just depends upon the child. I had some homeschooled friends that struggled. I think the reason why is because they thought it was all fun and games. Then when their parents couldn't catch them back up and they were put in public school and they never could get back with their grade level. The public school system where I live is horrible! You have to play sports to fit in here.
All throughout elementary I went to a private school. I LOVED it!! That is the route we are choosing for our kids. I don't know your religious status (that is none of my business) but I would suggest considering that also.