I've done it for a couple of years, all traffic comes into the VPS and Wireguard immediately redirects to my home machine VM. I can take the VM down, bring it up on another machine, it calls to my VPS to the Wireguard server, establishes the tunnel and then my email and web are now going to the VM on the new home machine, or whereever in the world I want to bring that VM up. Yet, to any clients hitting my public IP (the cloud VPS), nothing has changed except for a few minutes downtime.