First, it is awesome that you are at the point of even being able to consider which way to go, that is a milestone you should be proud of and super happy you reached. So Congrats!
No doubt, hiring is way easier IMO. But it comes down to funds and growth etc. I guess it would also depend where you are at, in the US in most larger cities/areas, a solid mid level developer will be making say anywhere from 70-110k/year. Then take payroll taxes, non health based insurance and the general administration costs that go with managing an employee and all the sudden that person costs you at minimum an additional 15% per year.
Adding the first person is the most expensive in my experience, as the cost is incremental after that, at least to a point. There are thresholds that happen though and cause additional administrative functions & costs to come into play etc. For example, crossing 20 employees, crossing 50 etc.
As long as you are going into it with open eyes and full awareness, I'd personally hire someone or contract it out on a 1099 which is less overhead and work, saving you cash.