I grew up with an avocado tree in the yard outside of my bedroom. I didn't fully appreciate the awesomeness of the avocado until I went to college and discovered all kinds of Mexican food fabulousness in San Diego.
We use avocados all the time in our house. If they don't get scored with the knife when we are cutting them, I save the pits and soak them in water until I plant them. This one soaked for about a week in water and is starting to sprout:
I finally planted this one today in a 6 inch by 6 inch pot about an inch down in the soil. The plants don't need much tending to once they are planted. Occasional watering and pot transplant when the plant begins to outgrow the one it's in.
If you're lucky enough to have a yard and not a balcony, you can plant it straight into the ground.
Here's the avocado I planted for my birthday in August:
And one day...when we have a house with a yard, we'll be able to plant our avocado tree in something bigger than a pot. Things to look forward to! Happy New Year!