There is no problem with this at all, this is how I have my model setup. In general the model has been left fairly flexible so that you can make it match your scenario as closely as possible. It has its limitations but there’s not really any one “right” way. If it works for you and the way you see your home automation structured then go for it.
There will be no functional benefit to the creation of locations or equipment if there are no points associated with them. All of the functions that run off the model will ignore these empty groups. It may be that putting all your locations in place in advance helps you get a better understanding of exactly how you want to structure the entire model or item naming scheme etc. On the other hand, there are also no real downside to creating them now other than the time input and busier model screen. If you are more comfortable seeing everything laid out in advance then go ahead. If you’d rather not have the extra non-functional pieces cluttering up the model view right now, then wait until you need them.