I've already made this into a all-in-one program: https://github.com/nikp123/wake-on-arp/

but i do agree with the others in this thread, it's quite a hassle to keep this setup working as intended.

I'd advise against wherever possible, consider investing into an efficient PC:

My current home server thing runs at only 22W while idle and costed me (including storage and networking) about 150eur.

But if it's done for the fun of it, I have nothing against it.