You want to run your web app off your basement server? Go ahead, but if you have a blog post that hits the front page of HN, there's no way to scale up. If your home server has hardware failure then you're out of luck until you can get new hardware. Your home has a power outage or ISP outage? Your site is down.
If you can tolerate those things, great! I wish my employers and their customers would tolerate it.