If you're hosting QNAP at home, you'll need to setup the port forwards to allow outside access and point your domain to it. That might not be allowed by your ISP.
Lemmy is lite on resource usage. For space, it really depends on how much content you sync in, or directly upload. For reference, my own Lemmy instance is using 7.4GB of space after being active for two months.
Personally I think it's a great idea. I run my own instance even though I'm the only user and have no communities.
Pros:
Moderation: Your own moderation capabilities. It's your choice what you see or don't see.
Content longevity: You can do your own backups and don't have to worry about loosing content when another instance disappears.
Performance: Generally speaking you'll have better performance. You won't have to worry about an influx of new users taking the instance down due to overloads.
Cons:
Domain: You need your own domain, which is an ongoing cost.
Hosting: Like the domain, you need to pay for hosting to run Lemmy. You could try running it at home, but I would not recommend it.
Management: Depending on how you setup Lemmy, there will probably be ongoing maintenance work. It might not be worth the hassle when you can just use a third party instance and let them deal with it.
Ultimately it's up to you.