I hope this makes sense, and am hoping for maybe a developer's answer so I can get somebody's opinion that has tried both home-server vs wordpress managed. Thanks!
Re: Wordpress managed versus User managed websites?
That's kind of a big leap, it's really a two part question of Managed vs not for WordPress in addition to using a service or self-hosting.
For the most part it's really not worth it to self-host. For starters home internet generally is not adequate, depending on your area you may be able to upgrade but the difference in price is probably more than a hosting account. There are workarounds but they also cost money and usually would violate the ToS of your ISP. Then you would still need to put in the work. You've got to think for less than the price of an hours work for a month... a hosting account comes with a team monitoring/maintaining the servers and network 24/7.
That being said there are options like Managed WordPress or a traditional Web Hosting plan. Either way the servers and network are managed (and either way you can use WordPress). Managed WP is more streamlined, with a custom Go Daddy install that comes with a few extra features to start but is restricted in what you can do with it. A regular Web Hosting plan gives advanced users more power and flexibility to set-up your WordPress site, and it can be used for things other than WordPress if needed.