If you don't plan on supporting this for at least a few years I would say no.
If you don't expect to have a decent local userbase I would say no (local in the sense of a common interest, e.g. it might be useful to host an instance for all members of even a small company if you expect a decent amount of posts).
If it's just you and your family (let's be honest: it's just you) I would say no.
The fediverse can federate, but if everyone is using their own server it's just a fancy peer to peer network.