Self-hosting allows you to have full control over your own data. This comes at the cost of needing to manage your own data, a tradeoff everyone will have consider for themselves.
Nextcloud is a fantastic platform you can use to self-host a number of different services. It isn't without its hiccups but its generally quite easy to set up (see Nextcloud Phone Photo Upload). I personally run a Nextcloud instance for sharing files, backups, and managing my RSS feeds (Nextcloud News).
Links
- Awesome Selfhosted, a huge list of self-hosting resources from /r/selfhosting