Rolling your on backups is fine, but using your own storage increases risk. All hard drives fail, and big providers keep multiple copies of data - often in different data centers.
My "rolling your own backup" thread is many pages of musings, but if you want to see what I ended up actually doing you can read the answer here.
TLDR: S3, B2 and Glacier. Up front cost of $30 or so for software, costs me about $2 a month for US based storage. I could store in Sydney but it costs a little more, and I get 100Mbps uploads to the US because they're done in parallel.