For most personal projects, hosting on the cloud may be overkill, but tempting with its supposed ease of use and benefits of scale. Self-hosting is often overlooked as a solution with the benefit of simplicity and cost.
Interesting discussion and demonstration of self hosting the kinds of apps most personal projects will end being.
I have a static IP now, but I used to have a script in my cron that would update the IP address my Cloud Flare points to if it needed to. It was super easy.