If you play in a band, either live or in a garage, it's probably better to have your own amp, for various reasons: you get the volume you need, you control the sound independently, you don't always get a PA to plug in, and so on.
In almost every other situation, especially playing at home and for recording purposes, your proposed setup if perfectly fine.
One thing I would however add to your proposed setup is a set of speakers that you may optionally use instead of the headphones. Nothing special, maybe just a set of decent PC speakers that you can plug directly into the headphones jack. Even at a low volume, it will be nice to have an alternative to always using the headphones. Playing through headphones is not the same as through speakers. Also, having speakers will allow you to play for someone else too, when the occasion arises.
(And by the way, always be careful at not using the headphones too loud for a long time, that can do a lot of damage.)