If you only have one computer at home, with a slow upstream (slow upload speed to the internet), then you will most likely not be able to set up a proper server for tremulous.
if you have a relatively sufficient computer (see above post), and if you also have a fast upload capabilities (at least 10kb/s for each player that joins the game), and if your computer is connected to the net 24x7, then you are ready to go. However, if this is not the case... then maybe you are better off playing on servers in australia, because players like playing on the same server, and they will run away if your server is either laggy (=not enough upload capabilities, or bad isp) or if your server is not available all the time.