Hi
My first baby was born at home, and it was fantastic. I wouldn't have changed it for the world! My birth story is linked in my siggy if you're interested.
Cost wise, we could have got away with only buying plastic sheeting for £10 from the DIY store, but as the siggy also shows I used Natal Hypnotherapy and a Birth Pool in a Box. I can highly recommend both!
Safety wise, there are lots of pro's to home birth - reduced risk of PPH, reduced risk of maternal death, reduced risk of shoulder dystocia, increased chance of spontaneous vaginal delivery, reduced incidence of the use of drugs for pain relief (and therefore the associated side affects of said drugs), reduced risk of assisted delivery... etc!
At the end of the day though, the best place to birth your baby is where you feel the most comfortable and relaxed - and if that is the hospital then that is where you should go. If you are at home, but spend the whole time worried about something going wrong (however unlikely that may be), then your experience will not be such a good one. Equally so, be prepared that if you are in hospital that you may be pressured into interventions that you don't particularly want so will need a strong advocate to be with you.
If you have any more specific questions about home birth, just shout!