You will end up paying much more for your services, along with spending a ton of time maintaining it (and if you don't, you will probably find yourself on the end of a 0-day hack sometime).

In Northern/Western Europe, where power costs around €0.3/kWh on average, just the power consumption of a simple 4 bay NAS will cost you almost as much as buying Google Drive / OneDrive / iCloud / Dropbox / Jottacloud / Whatever.

A simple Synology 4 bay NAS like a DS923+ with 4 x 4TB Seagate Ironwolf drives will use between 150 kWh and 300 kWh per year (100% idle vs 100% active, so somewhere in between), which will cost you between €45 and €90 per year, and that's power alone. Factoring in the cost of the hardware will probably double that (over a 5 year period).

It's cheaper (and easier) to use public cloud, and then use something like Cryptomator (https://cryptomator.org/) to encrypt data before uploading it. That way you get the best of both worlds, privacy without any of the sysadm tasks.

A 'power outage' incident doesn't seem to have been mitigated. My homelab has had evolving mitigations: I cut a hole in the side of a small UPS so I could connect it to a larger (car) battery for longer uptime, which got replaced by a dedicated inverter/charger/transfer-switch attached to a big-ass AGM caravan battery (which on a couple of occasions powered through two-to-three hour power outages), and has now been replaced with these recent LiFePo4 battery power station thingies.

Of course, it's only a homelab, there's nothing critically important that I'm hosting, but that's not the dang point, I want to beat most of "the things", and I don't like having to check that everything has rebooted properly after a minor power fluctuation (I have a few things that mount remote file stores and these mounts usually fail upon boot due to the speed at which certain devices boot up - and I've decided not to solve that yet).

As an example, I use cloudflare tunnel to point to an nginx that reverse proxies all the services, but I could just as well point DNS to that nginx and it would still work. I had to rebuild the entire thing on my home server when I found that the cheap VPS I was using was super over-provisioned ($2/mo for 2 Ryzen 7950 cores? Of course it was) and I had this thing at home anyway, and this served me well for that use-case.

When I rebuilt it, I was able to get it running pretty quickly and each piece could be incrementally done: i.e. I could run without cloudflare tunnel and then add it to the mix, I could run without R2 and then switch file storage to R2 because I used FUSE s3fs to mount R2, so on and so forth.

I also used to over-engineer my homelab, but I recently took a more simplistic approach (https://www.cyprien.io/posts/homelab/), even though it’s probably still over-engineered for most people.

I realized that I already do too much of this in my day job, so I don’t want to do it at home anymore.

Also Proxmox was called out as the only choice when that is very much not the case. It is a good choice for sure, but there are others.

How to actually reliably expose a homelab to the broader internet is a little tricky, cloudflare tunnels mostly does the trick but can only expose one port at a time, so the set up is somewhat annoying