What are some of the advantages to creating your own website rather than hiring a professional? What are the some of the drawbacks?

The first advantage to creating my own website is how much money I will save.  The cost of having a professional web designer create my website would be in the thousands of dollars.  There are cheaper web designers but their work is dubious, I would not be willing to take such financial risk.  Next will be the creative web site builders.  Some of them not only help to create websites but they have people available to help and “hold my hand” throughout the process, there is a fee but nothing like paying a real designer.  Finally I would know exactly what I would want, need and how my vision for my website should be like.  I would be the sole person responsible for it, if I would do something wrong I have only have myself to blame, not someone I paid I pretty penny for the website.  

One important drawback is time.   To create a good website is time consuming and it could take a long time to achieve that goal.  Another drawback is the tricks that only a professional would know the eye for design and the mind for the project.