Making the decision to homeschool is usually very difficult and not one to be taken lightly. It is a personal decision that I can't make for you, but maybe I can help in the thought process. When making the homeschool decision, consider these things:
Time commitment - Homeschooling tends to take up a lot of time in your day. It is more than just sitting down with books for a couple of hours. There are experiments and projects to be done, lessons to prepare, papers to grade, field trips, park days, music lessons, and the list goes on. Here are some sample schedules to give an idea of a typical day.
Personal sacrifice - The homeschool parent has little personal time or time alone. If care is not taken to set aside time for yourself, it is easy to never have time alone. Parent and child are basically together 24/7.
Financial strain - Homeschooling can be accomplished very inexpensively; however, it usually requires that the teaching parent will not be working out of the home. Some sacrifices will need to be made if the family is used to two incomes.
Socialization - More attention will need to be given to getting your children together with others. The beauty of homeschooling is being able to have more control of the social contacts your child makes. Homeschool Coop classes are can be good for socialization.