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While I'm sure it can be fun to run your own server from home, there are a few issues that I don't discuss anywhere on my site about the problems (guess I should add an article about it to my hosting guide... whenever I get around to it!)
The main problem, assuming you have the technical knowledge to be able to get it set up, is the network connectivity. It's no good having a top of the range server if it is connected to the net via a 56Kb modem that you also use for your daily surfing... I know this is an unlikely scenario, but it demonstrates the problems with data transfer and reliability quite clearly.
To find out if it is possible to run a server from your home you'll need to check with your ISP... do they allow it? Is your upload speed high enough? How much data can you push up through the line each month? Is that enough (i.e. how much of the max will you be using and have you got enough to cope with the bursts of traffic)? And all this before even considering the type of software you will need and the sort of setup to protect your own files if you intend to share the servers connection with the net...
I know thats a lot of things to look out for, and if you can pull it off then it can be rewarding... Having said that tho, the most cost effective, stress free way of owning a site is to have another company deal with the technical side of the hosting.
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