This is a completely valid option and one that more people should consider. You don’t have to selfhosted everything, even if you can. I actually prefer to support existing instances of stuff in a lot of cases.
I use disroot.org for email and cloud, and I’m more than happy to kick them a hundred bucks a year to help support a community. Same with fosstodon.org for Mastodon. I’m fully capable of self-hosting these things, but instead I actively choose to support them instead so that their services can be extended to more than just myself. I chose those two because they send excess funds upstream to FOSS projects. I’m proud to rep those domains.