Well the whole thing is fraught with difficulties but as a DM of a large brood I understand completely wanting a child, and it is a fantastic experience.
If you are a loving kind person then I think you should go ahead BUT and there are some big buts.
Your child may not be in the least like you when they grow up. I have one child who is very like my DHs mother. Very shy and introverted, very rarely speaks and although I love her dearly is rather a mystery to me.
You are going to bring up this child alone unless you have an extended family. It is going to be very hard, ( harder than anything you can imagine) as if you are really ill, what will you do? I had my DH who if I was in bed, stepped up to help.
Presumably you are going to have to work, so what is going to happen to the child? It will spend a lot of its time in a nursery. I have GC who are in. Nursery from 8.30 until Six, some days. I find that very hard to bear as I think that is a long time for someone else to care for your child.
Then the child at some point will be curious about his or her Father. When they grow older they may also question you and your motives.
Also, read the threads about Parents being frightened of their children and the incidents of Children attacking their Parents. Yes, it is is rare but it happens.
For instance you have a male child, he is bigger than you and he has been in a nursery most of his formative years. He starts smoking and you ask him to stop, but he refuses. You then get into a row and he pushes you. You have no back up as you are alone. Teenagers can be really stroppy.
There is a lot to think about, but just be aware of the dangers.