I come from a long line of teachers; my grandma, my mom, my sister and me. I taught college physics though, so I don't think it's the same as elementary or secondary schools, as most of my students were older than me, and actually WANTED to be there.
I'm a homeschooling mom, mostly for philosophical reasons. After doing teacher training classes in college and being subjective to mass education as a child (both public and private) - I wanted something different for my own. Hubby and I actually started discussing homeschool, when I was 5 months pregnant with our first child.
Learning in freedom (unschooling) is wonderful and that's how I learned most of my stuff too (after school, on weekends, etc). I wouldn't say we are unschoolers - just relaxed homeschoolers. We combine Charlotte Mason, The Well Trained Mind, Sonlight, and our own stuff!
After seeing my oldest learn to read at 5, my 3 year old learn to add, I'm a HUGE fan of homeschooling and the freedom to learn without having useless information shoved into your head only to be spit back up for a test. Children are smarter than most people give them credit for. They are wonderful observers and excellent at pointing out discrepancies.
I know a single mom who homeschooled. Her mom (grandma) watched the daughter during her work hours (the evening shift) and they did school work, etc during the morning.
Read all you can, talk to a local homeschool group, etc before you make your decision. Homeschooling doesn't take HOURS of your time, or even cost a lot, especially if you have a great library near by. Mass education takes the majority of day, but homeschooling doesn't. Most of our "seat work" is done in 2 hours (my oldest would be in 1st grade if we did grades). Most of her learning is done by experiences, play and observing.
Don't underestimate yourself or your child. Teaching them at home started with nursing/feeding, learning to walk and talk, etc.