1-Arms features
Free hosts offer very basic and bad attributes, which are not suitable for business Web sites and popular blogs. Free hosts do not guarantee for reliability and performance. There is no technical support that help you in times of trouble. Free hosts are not reliable and stable. There is no guarantee of the up-time definite network. Your site can go without notice from hours to days that can adversely affect your ranking and reputation.
Some free hosts not allowed your own domain name, making all your efforts useless. You have no ability to control your own brand and identity. Your site look like a sub domain or virtual directory of their main website.
You can not grow with free service providers. If you ever want to move to paid or better hosting there is no backup or data storage of your Web site available to continue.
In fact, free services fits only to persons who are experimenting on web, or just want to come online and share stuff.
2-Un-stable
Free hosts have no roots on the ground. By his poor revenue structure they are likely to go from the market after some time. Many large giant free services have closed because of poor revenue structure, yahoo is a popular example.
3-Is
Free hosts fall victim to hackers or spammers. Often servers are hacked or IP address get black list because of spammers. Blacklist IP can severely damage your website ranking and reliable in internet world. The chances are that your data may get deleted or stolen during hacking activity.