You must be committed to your child's education more than typical parents because you are in charge of everything that your child learns at home. You designate how much you study a certain subject and what specific topics within that subject you want to cover. It is something that all family members need to be committed to, especially if adhering to a schedule.
All parents are not qualified to home school their children. While books and videos can aid parents in teaching school subjects, they cannot do all the work. You need to have plenty of time and energy to devote to your children's schooling.
One downfall of homeschooling is that children are not placed in classes with students who are similar in age, which encourages them to socialize with their peers. This does not mean that your child will become a recluse, but you have to work harder to organize play dates and meet ups with other children so that they may develop friendships.
Homeschooling is not free. Depending on the curriculum that you are using, you may have to invest hundreds of dollars each year in materials. These include text books, workbooks and supplies for art activities such as colored pencils, crayons, markers and glue. The cost may increase as children get older and more subject materials need to be covered.