I have this as well. Easy to push and pull changes. I push to a private git server.
I keep a second copy repo on a thumb drive so I can start my home directory on an offline computer.
Interesting. But I guess there must be files that you don't check in because of size?
You can .gitignore everything. I used to have my homedir as git repo, but abadoned that because it interfered with other git repos inside my home. Nowadays i have ~/.config as git root, with some symlinks supporting the programs that don't look there on their own.