Hi lonewolf,
From reading a couple of your other posts, I'm guessing that you're fairly new to figure modeling. That's great! Welcome to the club! I've been doing figures for 7 or 8 years and they've taken over from the armor I used to do ( but not completely!

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Your method is a great start to building your figures. As you progress, you may find that you want to make a few changes to your methods. Here's how I build mine:
1: Buy the figure (very important!)
2: Take it home (and hide yet another kit from the wife).
3: Clean up the figure. This includes either removal from the sprue for injection molded kits or removal of the casting plugs for resin, white metal and vinyl kits. Also, remove any mold seams from the pieces.
4: Study the figure and decide which parts can or need to be preassembled. I usually try to assemble as much of the figure as possible. Figuring this out correctly takes lots of time, patience and experience (read: mistakes).
5: Wash the figure to remove your bodily fluids

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6: Prime the figure and look for all the flaws you missed

. Fix them and reprime. Repeat as necessary.
7: Begin the actual painting (finally!).
Cheers,