You will notice that the ONLY people who say homeschooling is bad are teachers and those with a vested interest in our education system. Of course they are going to say it's bad! If everyone homeschooled they wouldn't have jobs! Don't listen to them! If they aren't telling you about their fancy degrees then they'll be telling you about socialization. How can children "socialize" if they're told to sit down and be quiet all day?
Instead, make your own decision based on what works for your family. Some children flourish in school. Others do better in the one-on-one that homeschooling provides. Also, you graduated High School, which means you mastered all the material up through high school. Of course you can share that with your daughter!
Don't get me wrong, teachers are wonderful people with the ability to teach many children at once. That just might not be the right route for EVERY child.
We started homeschooling our daughter this year and its had its good and bad points. Our daughter graduated from first grade last year but when we tested her we couldn't believe they passed her! She didn't know her months of the year, the days of the week, she didn't know her seasons, she was having trouble reading preschool books and her reading comprehension was nil. Her math was OK.
Her teacher had alluded to her having ADHD problems, and we knew she was having trouble focusing and paying attention in class.
She is doing well in homeschool! The GREAT part is we make sure she fully understands something before we move on. Her main problem is she needs to SEE examples (lots of them!) before she can understand. Using the internet we can show her lots of pictures or demonstrations, something a teacher may not be able to do. One day it took us an hour to get through one concept in science. But you know, now she REALLY knows it! And it's OK to spend an hour on science if now she can APPLY her knowledge.
The pros are being able to really make sure she knows her material, and letting her learn in the way that SHE learns best. She didn't have ADHD, she just didn't learn the way they make you at school. Also, we know Study Technology, and that keeps her from running into barriers. If you want to know more about Study Technology, let me know.
The cons are the cost of the materials, and making yourself put in the homeshooling schedule. It can take a lot of patience, sometimes when she gets stuck we have to do a lot of digging to find out what she doesn't understand. One day it turned out she was stuck because she didn't know what a garden hoe was. If you don't know what something is, how can you read and understand a story about it?
For a first grader you really only need an hour a day, maybe a little more. Just follow the Illinois laws (I have links if you're interested) on the subjects.
Don't be worried about teaching your child "right." The funny thing about teaching methods are they only work for certain kids. EVERY kid has the method they learn best with. As a homeschooling mom you can find that method, there are a lot of resources out there!
Our daughter used to hate school. She dreaded going, she wasn't learning and she was constantly in trouble for talking and goofing. This spilled over into her activities like gymnastics. Now she loves homeschool, she's learning quickly (after we found out what was missing), and she's better behaved all around! We just took a trip to the aquarium and we are studying fish, something she wanted to do.
If you need more info or encouragement, try www.homeschoolspot.com :) Or message me or the other homeschooling moms! We'll get you started!
EDITED TO ADD:
I give teachers a high-five for being able to work for as little as they do and be able to teach a classroom full of kids (who's parents probably let them eat junk food and watch TV) anything with the limited resources the school districts offer.
BUT, the only negative things I have heard about homeschooling are from teachers, principals and superintendents. Now, you teachers come on here and add to that experience, saying exactly what I've heard from teacher after teacher.
I've been researching homeschooling for a long time. I've been to homeschooling conferences, I've talked to parents of successful homeschoolers and those who were not successful.
I am telling you, one hour a day is plenty for a first grader. If you actually sit down and do a worksheet with a first grader, it really doesn't take that long. You could easily finish all the Illinois requirements for one day in one hour. Homeschoolers also continue to learn all day long. We do about 2 hours of seat work for second grade. The rest is all doing. My daughter has learned cooking, sewing, dancing, swimming, soccer, tumbling, singing and weaving. We've been to the aquarium, the museum and the zoo.
Think about how many worksheets a first grader would actually do in one day. Explaining a concept to ONE PERSON is easier than explaining it to a classroom full of kids. It really would only be what I said, about an hour or more.