When we had our first child, we looked at both daycare centers and home daycare providers. We ended up choosing a home daycare, and loved it. They are not all created equal, so you really have to take the time to get to know the caregiver(s), look into referrals from other parents, and visit more than once to get a feel for the place.
The caregiver at the home daycare we used did everything on her own, with no other employees. She had two of her own children in high school, a large, very clean home, was licensed by the state, and only took on one infant at a time. When our daughter started there, the other children in her care had all been with her for at least two years. She had a large finished basement that she used as the “classroom.” It was full of fun things to do, very comfortable and bright. She ran the daycare like a classroom in many ways, with daily “circle time,” crafts, playtime outside in the fenced in yard, very limited television, and daily communication sheets with parents. We were welcome to call or stop by any time, without notice. Our daughter thrived with her, and we never once had any problems or concerns. We always felt we were lucky to have found her.
The pros were stability of care (centers often have high turnover rates), reasonable cost, convenient location, and excellent care.
The biggest drawback was having only one caregiver. If she was sick or had some kind of family emergency, one of us had to use a sick/vacation day or scramble to find another sitter. That’s really the only drawback I can think of, but if you know someone to use as a backup, things will be easier.
When our daughter was a toddler and I switched jobs, she started going to a daycare center. We were also very, very happy with the center. It was an excellent place. I’d suggest you visit both centers and home daycare centers to find a place that works for you.