Ultimately only you can answer that. Take a good look at the individual strengths and weaknesses in your family. How are you best gifted? How does your child best learn? Find a trusted friend, preferably one without a strong bias towards either end of the schooling spectrum, and have him/her give you their honest thoughts regarding how they see your family succeeding and/or struggling with homeschooling. Then, if you feel moved in the direction of homeschooling, take the plunge! Do your homework and discover which style of homeschooling best fits your family and set about to the task of making a plan and gathering your resources. Overall, relax. If your child has been in a formal school setting for a while it could take some time for him/her to adjust to the idea of being at home and that is okay. Also remember, you don’t have to make a permanent decision for the length of your children’s education before they enter the Kindergarten years. If you find homeschooling doesn’t work for you and your child, you can certainly put them back in school.