An often overlooked point is redundancy - if your server goes down, you've got no internet anymore because all the devices on your network are just waiting for it. That means you should set up at least a fallback DNS (so a second server or your ISP's DNS as a backup) so your clients don't end up completely in the dark. Most tools like Pi-hole let you configure that in the settings - do it right away before you go live.
Also important: make sure your server has a static IP on the network (fixed IP, not via DHCP), otherwise you'll lose track of it in your router at some point and all your clients will point to nothing. And if you want to block a lot of stuff (ads, trackers and so on), start small - some aggressive filter lists slow down the queries and make everything sluggish. Test it first with just a few lists and then gradually add more. Hardware-wise, an old Raspberry Pi really does the job as long as the CPU isn't completely overwhelmed - a quick look at the load (top or htop) will quickly tell you if it makes sense.