I can't stress how important it is to own your own hardware and colocate. Also, if you are paying for a dedicated server, you can often save money by moving to colocation.
What if you don't want to host your stuff in the same jurisdiction where you live because you don't trust your government?
Colo is a lot more expensive than some dedi or VM somewhere. Can you provide me with a 12 core 32gb ecc 2TB ssd for 33eur/m? I doubt it.