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hi guys I need your personal opinion on this one; User Experience, Cost Effectiveness etc.

I use personal storage, because it costs just about I would pay for the cloud; it's always 'up', because connected via local gigabyte network; I don't wanna give my personal data to somebody else and also pay for it.

Good local storage will cost u about 500-600$ (near 10tb of storage), power consumption depends on your needs.

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I prefer personal storage cuz its cheap @$120 for about 2tb HDD and there is no hassle involved with second or third party dependencies...but if u want to store for longer periods then I would suggest making multiple copies and storing them in different places such as HDD, cloud, M-disk and what not

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I back up to my server, which backs up to cloud ... so both

Desktop - Corsair 300r i7 4770k H100i MSI 780ti 16GB Vengeance Pro 2400mhz Crucial MX100 512gb Samsung Evo 250gb 2 TB WD Green, AOC Q2770PQU 1440p 27" monitor Laptop Clevo W110er - 11.6" 768p, i5 3230m, 650m GT 2gb, OCZ vertex 4 256gb,  4gb ram, Server: Fractal Define Mini, MSI Z78-G43, Intel G3220, 8GB Corsair Vengeance, 4x 3tb WD Reds in Raid 10, Phone Oppo Reno 10x 256gb , Camera Sony A7iii

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I'm paranoid about my data being backed up to a ridiculous degree - I often back up on Bluray, keep Onedrive updated (the advantage of office 365 is that you get unlimited storage) as well as a USB hard drive.

Fractal Design R2 Define, Core i5-4670k@3.40Ghz, 16gb Corsair Vengeance Ram

Zotac GTX 780 OC, BenQ XL2410T 1920x1080 120hz, LG 29EA73-P 29 Ultra wide

Crucial M4 250gb SSD, 2x3tb Western Digital Caviar Black partitioned into 1.36tb each, Razer Black Widow 2013 edition, Razer Deathadder, Logitech G13. 

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I assume your goal is offsite storage.  Which is better will be based on your needs.

 

Cloud will be cheaper for nearly any amount of storage.  But Colocation will likely be way faster, and you have total control of your data. 

Cloud does all the system management and administration, and gives you any support you need.  Colocation means you can fully customize to your hearts content, but, you have to do all system management and administration.

 

Colocation is usually quite expensive due to the needs that most businesses have and are willing to pay for.

 

If you are just needing somewhere to put lots of data, like the others have said, local storage at home is likely the best all around.  But this of course is not an offsite storage.

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