S.S.
Well if you are going to try, I would make sure you both are well versed in Ina May's Spiritual Midwifery and all that can go wrong. You are probably already familiar, but if not, it is a technical manual of how to deliver babies & how to treat emercency situations.
All of my friends and I had homebirths or birthing center births and 2 of us had bad outcomes. One was a placenta praevia (baby died and mother nearly did too). This was her 6th child & she figured she had done this enough times that she could go it alone. They live in a large city so parametics were there quickly, but it was too late. The baby was on life-support for 17 days and was then removed. I am told it was a miracle that the mom survived.
In my case, my third baby was born with a life-threatening GI/lung defect. My midwife was instrumental in assessing the situation and knowing what to do. My daughter was born at 3 am after only 40 minutes of labor. She cried and looked completely healthy to us, so we would've likely wrapped her up in a blanket and nursed her off to sleep with us sleeping too and quite possibly have woken to a dead baby. To survive, she needed surgery to remove most of her left lung and to push her GI organs into her abdominal cavity (they had herniated into her chest cavity inutero).
These things happen rarely, but they do happen and I would want an experienced midwife there if at all possible.
-S.