However it can also be a huge advantage.And yes bring much accolades. Many of my friends home school their kids, majority of them are westerners. And one of them a Sri Lankan. I too dabbled with the idea once upon a time,and kept it up for a year, but could not quite keep up with it due to certain reasons.
A lot of material is available online..just do a long hard search.No program and methodology is one size fits all, so you will have to dedicate a lot of time and effort in finding what you deem best for your kids.
All the best!