I think it's absolutely normal to be afraid before birth, whether it is a homebirth or not. I ultimately decided against a home birth with my first, partly because of insurance, but ultimately I made the decision based on fear and now I regret it. However, I do believe there is a big difference between regular "fear-of-the-unknown" and the feeling that something isn't right. I wasn't prepared at all when early labor started, because it was agonizing and I was told early labor shouldn't hurt much. We went to the hospital (too early, I was only 3 cm but they admitted me anyway for being over 41 weeks) and that didn't make me feel any safer, I was terrified of how much worse the pain would get and it started to make me panic. Then at the time I really could have used supportive caregivers to make me feel more confident and empowered, they basically made it much worse because I had to argue with them over every little detail (no I don't want an IV, and I don't need it! no I do not want constant monitoring!) and that did not help my emotional state at all and I gave in and got the epidural.
My main advice would be to discuss this in detail with your midwife. I get the idea that some individuals can be very unlikely to recommend a transfer, even if there are signs it is necessary, but the vast majority are responsible and would rather be safe than sorry. Ask your midwife what percentage of women she transfers, and what she factors she takes into consideration. Make sure that she seems competent and knowledgeable, and maybe have a doula who is also comfortable with normal birth and who would recognize any warning signs and help be your advocate. Also keep in mind your chances of complications are very low if you have a low risk pregnancy.
I would have chosen a birth center the first time around if I had the choice, but for my second child I would absolutely chose home over a birth center. A birth center is better than a hospital, but I would personally feel more comfortable and empowered in my own home with no one trying to stick me with with needles or tell me I can't eat and drink.
Do whatever makes you feel most comfortable and strong. You will need strength and confidence, and people around you who make you feel safe and empowered. I did not get that feeling at all at the hospital (they told me they supported unmedicated childbirth, and that ended up being a bunch of BS). You could also plan to labor at home as long as possible, be prepared to have a home birth if that feels right, but also be pre-registered at the hospital in case you decide to change your mind at the last minute (which are you absolutely entitled to do!)