I was just thinking yesterday, "Oh, my goodness, thirty-two more weeks of this school year. I'm not going to make it." And my oldest is seventh grade this year, which means I am only just halfway done (with one child). For us, there are no other realistic educational options if we want our kids to go to American college, so I am a homeschooler by necessity rather than vocation. Many times a year I wish I could send them off to someone else to do the hard and time-consuming work and free myself up to pursue different things.
But, counting the blessings, here is what I came up with:
1) Homeschooling allows you to meet individual needs like no classroom can. My middle son is very good at math, so he can do algebra this year and not be bored with typical fifth grade math. My youngest was a reluctant reader, so we could take our time with her and let her go at her own pace without labeling her a slow kid. Now finally, in fourth grade she has really taken off and is doing well. I imagine in school she would have learned to hate reading or think she was dumb.
2) Over the summer when we aren't doing school, some days it seems like I barely talk to my children. When we are reading together and learning together, we get to spend time with each other and I know what is going on with them.
3) I can plan to build certain skills or use certain materials over the course of several years, so there is a consistency and coherence to what we are learning and what the expectations are that you don't always find in traditional school where each year can be a whole new ballgame.
4) I'm not that interested in sheltering my kids from the world or indoctrinating them in my perfect worldview, but I am interested in sharing my values and motivations and my way of looking at the world. I like that they spend more time talking about the Bible, faith, social issues, politics, etc. with me than with a Sunday school teacher or classroom teacher. I think it is important that they listen to other voices, but I like being the first one, and the one who gets the most time. I like that as they are learning to think for themselves, they know what I think and respect my opinions on things.
But, getting back to the OP, there is nothing wrong with choosing something other than homeschooling if you have other options to consider. I think everyone should re-evaluate regularly and make sure that what they are doing is a good fit for each kid, for the family, for the gifts and talents of everyone involved. I don't think anyone can decide for 100% certainty when their kid is five that homeschool is the only way to go, and they are 100% committed to it through high school. Situations change, you learn things about yourself and your kids along the way, and there isn't always one right or best option. Your kids could have a great experience in traditional school.
I was homeschooled through fifth grade and then I went to public school through high school. My mom stayed very involved- she did PTA and booster clubs and read all the assigned novels so she could discuss them with us. I loved homeschool, for its flexibility and encouragement to pursue my individual interests and curiosity, but I loved public school too, for all the ways it was different - having a variety of teachers, being in clubs and on sports teams, the competition afforded by classmates and grades, the chance to take AP classes from really great teachers, really cool field trips and academic camps I could go to as part of their gifted program. So, I think homeschool is definitely not the only way to get a good education.