The home studio can be incredibly sophisticated these days, very much capable of recording, mixing and even self finalizing your tracks to a high standard in the comfort of your own tailored musical space. If you are willing to invest some time into learning some basic engineering skills and invest some money, great results can be achieved. You will be able to potentially save money on studio bills and benefit from the great convenience of a studio in your house. This would especially have benefits at the composing, arranging, recording and idea building stage for an acoustic musician and potentially the entire production process for an electronic musician.