My daughter attended local schools for 8 years starting from age 7.
It was not a matter of cost for us, but the differential was a huge plus for the savings account.
All her school friends lived nearby -- we lived in central SG, far from the
International Schools.
She also benefited from the discipline (though she would never admit it) and the focus on basics.
Her study habits learned then are helping her now to handle college life.
She learned Mandarin quite well (though it was a struggle), since Mother Tongue was taught daily.
This was a big help when we moved to China.
She had her own creative streak, so the common creativity concerns were not relevant.
You need to decide what aspects of schooling will be most important. Where you live may also be an important factor.