I think that if you have ever considered homeschooling, THEN JUST DO IT!
It is hard.
It can be expensive.
You will be ridiculed.
You will doubt your ability.
You will doubt if it was the right thing to do.
You will have brain freezes where you can't think of a thing to do.
But, that's the worst that could happen.
There are networks, books, blogs and magazines full of information to help you through all of it.
If you think about it, you go through the same challenges I listed most days of your life just working and living!
A good place to start is with this book: Morning by Morning: How We Home-Schooled Our African American Son's to the Ivy League.
I would label this family "accidental home schoolers". They only did it after a traumatic experience. But they rose to the occasion and did what they had to do. Though both parents were highly educated, they were not educators (at first). It is inspiring and honest.
If you're considering home-schooling or actively doing it you can't take the summer off. As the teacher, you must use this time to prepare for the year ahead. I'll keep you posted on what I'm up to all summer as I gear up for our official first year. My 3 year old can read, but it was too early to begin real reasoning and handwriting because her hands and brain aren't at that point. But in September she'll be four so we are moving foward into our Kindergarten curriculum.