Home birth

We are only 7 weeks so I’m way ahead of myself lol but I’m trying to educate myself. My cousin is also pregnant (10 weeks) so we’ve been discussing a lot of baby, birth, and postpartum stuff. I was thinking of a possible home birth or birthing center instead of a hospital. ( cousin is a type 1 diabetic so she will give birth in the hospital)

Any doing a home birth? Anyone already had one? Water birth? Tell me what you think I need to know, pros, cons, etc