I'm the youngest child in my home. We are a lot of childres (five) and my siblings are so much older than me (my youngest sister is 29 yers old). To me it means a lot of advantages but also many disadvantages.
On the one hand, being the youngest child becomes you the darling. When you're little everyone buys you what you want and they yield to your caprices. Furthemore, if they don't do what you want, then they feel quilty and you're compensated in some way. Besides, all the time you're in the spotlight of your family and you get receive all their attention. What's more, if your siblings exceed you for many years they become your second parents and they take you to the park and you go out with their friends. They do everything possible so that you don't ever get bored.
The best is that these cares will never change even though you grow up. Besides, your siblings become your quides because what you do is not a surprise for your parents and they can help you not to do their own mystakes.
On the other hand, if you're the last of your siblings everytime yoy will be the little child. When you're older your family doesn't let you do anything: they don't let you go out because they are afraid that something will happen to you; not even going to buy bread! , sometimes you can't get into aa conversation because they speak about "adult things"... And if you fight with your siblings you have everything to lose. For example, if you share your room with your brothr or sister and you want to watch TV but your brother or sister wants to read a book he will win and, at the end, your mother tells you off for not obeying your brother or sister.
However, the worst is that if your siblings are much older than you, when you're little you feel like you're an only child, without other kids whit whom you can play.
In conclusion, there are advantages and disadvantages to being the youngest child, but I think the advantages are far more important than the disadvantages and, what's more, the disadvantages eventually disappear and the feeling of being only child is going to disappear as you get older and you find more hobbies, things that you do and things that you can talk about with your siblings besides playing "Hide and seek".