Would this be a bad idea?

It's difficult to predict how either idea will work out. You have wonderful memories of your own travels, and I suspect that part of your motivation is to re-live that experience. Of course, you understand that it won't be the same. It might be wise to step back and take a serious look at how your own children (when you have them) react to travel. Some love it, but some don't. And the homeschooling idea might result in some problems as well. Travel has the flavor of a vacation, but neither you nor the children will be "on vacation." Home schooling is a tremendous amount of work for you, as the substitute "teacher," in addition to all the work involved in travel -- itineraries, logistics, and just plain work. Your memories of your own trip are from the perspective of an eight-year-old, who had none of the responsibility. I tend to believe that the next time around will not be nearly as much fun or enjoyment. As for the question of whether it is better to stay in the U.S. or expose the children to foreign languages and cultures, that, too, is a toss up. They probably will not stay in any one place long enough actually to learn much of the language or the culture. An alternative to your plan is to consider how much more they will get out of a year of travel when they are old enough to appreciate it. Perhaps the year between high school and college, when they have actually studied a foreign language, a little history, and some social science. They'll not only be exposed to the language in use, but will be motivated to learn more of it. And they'll start college with some serious worthwhile experiences.