You gain several things.
- A method for computing their topology (almost). Given an inclusion of (say) compact Lie groups $H\subseteq G$, there is a spectral sequence which computes the cohomology groups (and often ring structure) as well as characteristic classes (for the tangent bundle of G/H). Often in practice (but not always, hence the above "almost") the differentials are actually computable.
For spheres, the cohomology ring and characteristic classes are easy to compute. For projective spaces, this information is harder to compute.
(Again, I'm assuming we're working with compact Lie groups) A metric of nonnegative sectional curvature. Until recently (as in, the last 5 years or so), they only known and easy to apply method for constructing metrics of nonnegative sectional cuvature was by starting with $G$ with biinvariant metric and quotienting out by some subgroup.
Writing as a homogeneous space helps you find more isometric actions. As an example, consider $S^7$. This can be expressed as a homogeneous space in 4 different ways: $S^7 = SO(8)/SO(7) = SU(4)/SU(3) = Sp(2)/Sp(1) = Spin(7)/G_2$.
The $SU(3)$ in $SU(4)$ is not maximal - one has $SU(3)\subseteq U(3)\subseteq SU(4)$. It turns out that the extra circle factor in the $U(3)$ descends to a well defined isometric action on $S^7$ - we've just discovered the Hopf fibration $S^1\rightarrow S^7\rightarrow \mathbb{C}P^3$.
Likewise, the $Sp(1)$ in $Sp(2)$ is not maximal - one has $Sp(1)\subseteq Sp(1)\times Sp(1)\subseteq Sp(2)$. It turns out the extra $Sp(1) = S^3$ factor gives a well defined isometric action on $S^7$. We've just discovered the Hopf fibration $S^3\rightarrow S^7\rightarrow S^4$.
(The funny $Spin(7)/G_2$ doesn't give rise to any new "exotic" actions on $S^7$, but it does help one to understand the spin representation of $Spin(7)$ and also what $G_2$ actually is).