[Q] Pros/Cons of Rooting/modding topic

I got my Galaxy Note 10.1 2014 Edition for christmas, I know it has the knox chip in it so any modding of any kind will trip this. My question I have is:

Are there any pros that outweigh losing the warranty on the device or should I just wait the year?

I want to but don't want to lose the warranty if it should ever need to be fixed.