Hi G.,
I've birthed in the hospital, at home, and on route to a birth center. My favorite birth was the home birth by far. First, I want to mention that homebirth is statistically safer than a hospital birth given a low risk pregnancy. I can send you sources and statistics for that info if you want -- contact me privately. Planning a homebirth with a midwife you trust is absolutely the best way to avoid unnecessary interventions -- you might not get your ideal birth, but if you've got a good midwife, you can rest assured that anything that happens is necessary. At our home birth, we had my midwife, her assistant, my husband, our doula, our roommate, and my mother present, as well as my father downstairs, and my son was alseep in his bedroom for most of labor. He woke up as I started pushing, his person (always have a well known adult there for any older children so that you and your husband don't have to worry at all about their care -- someone who doesn't feel strongly about being present for the actual birth)and he went downstairs for breakfast, and when they were done they came up and my almost 4yo cut the cord. The birth was wonderful -- I felt completely supported and loved and can't imagine a more beautiful birth. My third birth was unintentionally unattended -- we had chosen to go to a birth center because my current insurance does not cover homebirth, and he was born in my car on the way. Not what I would have chosen, but quite wonderful in its own way.
If you want to talk more about this, you can email me privately. I have many resources about homebirth and on having older children present for the birth of a sibling that I can send you. I also teach Birthing From Within classes -- you can check out my website at www.birthinawareness.com
Best of luck!
-B.