15 years ago we also were trying some other approach with friends. It was the time when cloud was not still the buzzword, and buying a dedicated server in a datacenter was just too expensive for us students (back then). So we bought back then a bare-metal Hetzner machine with friends and shared the bill (for a few years). The problem was, as always, when some time elapsed and some folks wanted out, you needed to re-split the bill. As you can imagine it all collapsed.
Today, what I do to solve both problems? I just buy cheap Hetzner Cloud virtual machines. The cost is marginal. Even with their latest price bump. And it solves the other problem I've had with old approaches. When you pack everything on one box, you have a problem after 2-3 years that it's hard to upgrade the OS ... without taking everyting down ... and possibly not be able to take it back up - the OS upgrade is scarry. The small cheap virtual servers allow you to take the OS upgrade risk-free.
Have you considered how much electricity will that computer @home eat? My hosting at home made me learn it the hard way (it was a regular linux based PC eating a lot of current). I think you have to factor in the hardware + electricity cost in order to estimate what's cheaper.