Oh my goodness. Homeschooling is so wonderful. I homeschooled my kids for 5 years. I pulled them out of public school when they were in 2nd and 4th. We ahd a blast. Everything is a learning experience and they learn so much better when they have fun.
The only con I had was that I didn't have "Me" time during the day while they were at school, but that wasn't so bad. Okay, one other, you have to buy your supplies but I found most of mine online for free.
Pros: You know your kids and their abilities. You can push them and see immediately what needs to be focused on. You pick what they learn; for example, if your child is really into frogs, you can spend a week on frogs - anatomy, general, habitat, etc. Think of all the science and reading they will be absorbing. You can spend extra time on subjects they need more help in and do it in a way that makes them less stressed and more open to learn instead of insisting they do it the same way all the other kids do. There is so much more. Also, on a practical level, there will be no tardies or absences to explain away to the school. You can plan and go on vacation anytime you want and still be "in school." (We went to DC to visit family and turned it into a week long social studies trip.)
There are some great books on homeschooling and excellent support sites on the web. I didn't think I could do it either until I bit the bullet and realized that my kids' education was more important and when my daughter came down with walking pneumonia from stress, I knew it was time. It was hard at first because I didn't know what I was doing but it got easy quick. You just have to have confidence in yourself and keep in mind you are doing it for them.
Oh, and I had to deal with teachers, family, etc., telling me I wasn't qualified to teach my child. Sorry, after seeing what the public school was doing to them, I was more than qualified. When they wanted to learn something that I didn't know, I found someone that did and "hired" them to teach my child. Like learning German. Just know your limitations and understand that it is okay that sometimes someone else knows more than you do and tap into it. :)
Also, I got the whole "they aren't getting socialization." Bah, I was never busier than when my kids were homeschooled and I was at home. We had Girl Scouts, Boy Scouts, community gatherings and such. My kids were so social, I wish I had cut it down, but they really did thrive. Look around in your area. We had a group of homeschoolers that met once or twice a month for "playdates" and we would organize ourselves into a group and get school or group discounts to go to the zoo or museums - we'd arrange our own field trips.
Feel free to ask lots of questions and do some internet searches. Like I said, I found 90% of my eduational materials and teacher's supplies online for free.
While my daughter chose to go to high school, she was post-high school on all her entrance exams and has been able to have a fun-filled and exciting time in HS. She is a senior now and president of FHS-HERO, drama, choir and has been accepted to FIDM. Life is good.