Costs -- pretty much mirrors of the above:
* You have to do the moderation -- or pay someone to.
* Also sys-admining -- or pay someone to.
* Customization, of course, requires tinkering.
* Again - details to manage: picking and installing software, and/or finding someone to do that for you.
There ARE services that do hosting and system-level administration for Fediverse servers.
@GregCirillo @futurebird
I have a Misskey server that I run on my project site, which really only has me on it, though I plan to open it up to project contributors.
But I also keep this personal account on a server run by a friend. One reason is because it's less hassle. Another is because there is a larger community on this server. And another is because, if my site goes down, I will still have this account to tell people about it!