So here are some advantages that you can enjoy if you if you apply for home loan alone:
A co-borrower is usually a co-owner of a property. Although it is not a bad idea, as then it can create some or the other problem related to ownership issues. Also in terms of being a co-applicant or a co-owner, this might not be a good idea. For the reason, if the primary owner of the property fails to clear his or her dues then the secondary property owner might lose their rights as well.
Two people taking loan means both of them are under debt and are equally responsible for the loan. If one is not able to pay then the other party is held responsible to pay the amount. Both the parties are held equally responsible for payment for the home loan is not paid on time as per law. If your co-borrower is someone from your family then you might not want him in debt and suffer in case of any crisis.
Also if the co-borrower is your from your family then this also means that there is a restriction for applying for another loan in future. You get restricted to plan something else. You both might have exhausted your limit for loan and arranging funds for some other situation might leave you in a helpless situation.
When you plan to apply for a home loan all by yourself, you know your limits. You can program yourself as per your loan amount while handling your daily expenses. But when you are applying with a co-borrower you tend to get on a higher side because of you then you have higher eligibility of home loan amount and this might hamper your budget and at the same can increase the burden of the loan. Such as you know if you are applying for loan alone and you can only afford a studio apartment whereas you a 2 BHK unit. But when you have a co-borrower you might light book a 2 BHK or 3 BHK despite the fact that you only require 1 BHK.
So keep these advantages in mind of applying home loan solo.