If you mean to do that in the public DNS records please note that public records that point at private IPs are often filtered by ISP's DNS servers because they can be used in web attacks.
If you don't use your ISP's DNS as upstream, and the servers you use don't do this filtering, and you don't care about the attacks, carry on. But if you use multiple devices or have multiple users (with multiple devices each) eventually that domain will be blocked for some of them.