Solo, if you're asking about pros and cons as opposed to scratch building, there are several.
Kits, serviced, can save time and money spent in the tooling required to bend sides, thickness lumber, and other expensive operations. (Not sure that's really valid on the neck shaping - but cutting and scarfing the neck might require a pricey tool). The fret channels are cut, f/b radiused.
All the parts are together and should be compatible - the rosette channels might be already cut and the rosettes should fit with little effort.
Your cost in tools, jigs, etc., will probably be the same as a kit, as was noted by mmapags. But doing from scratch will require a greater investment.
I've built 2 and am on a 3rd kit. I'm looking to buy a side bending machine, so I'm getting closer to scratch building even though still a long way off.
Cons....... kits are limited in some respects. The type of guitar you can build and materials come to mind (even though LMI has a kit wizard which looks like fun).
I haven't been able economically to "tool up" to do scratch work. And there are some procedures I'd rather someone else did right now. Might change my mind later though.
Some kits, specifically Martin's come with second rate materials to some degree. But John Hall at Blues Creek Guitars, Ken at Kenneth Michaels Guitars, LMI, and Stew-mac, provide very good wood and other parts. I've bought things from all of them and never been dissatisfied.
And my first guitar sounds really nice to me. The 2nd is awaiting final buffing before it can be strung, and like I said, the 3rd is just starting.
It is addictive. And I'm having a blast.
Good luck in whichever way you go.
Bob
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