What disadvantages are there regarding leaving a house key outdoors?

Plain and simple: theft. Burgulars can easily find a hidden key. If you must leave one, you can purchase a lock box, like the ones realtors use.
 
because you never know what voyeur is watching what you do. It really is not about someone guessing where you have left your key. The chances of you having a random thief target your house and searching for your key and finding it is slim, but the chances of you having a neighbor or other person in your life know your routine and come to the house when they know that your are not home is greater.
 
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