Homeschooling in all reality does not cost much. It does cost more than a public school, but the quality of education that you can achieve is same as that of a private school. Yet, home education cost is nothing compared to that of a private school.
However, you could lose a lot of income if you are not a single income family. Home schooling almost always demands that one of parents give the children a bulk of his/her time. Although home school cost is not too high, the fact that one of the parents would have to lay off from the their job means less overall income for the family.
If you are single-income family, then you can expect to spend about a $1,000 per year per child (occasionally more). This cost is actually a very lose estimation because it depends on a lot of factors. We will have a look at all these factors here.