Well first of all iam appolgize for my bad English. Iam from Europe.
in Belgium there is one stage phalloplasty. That include : making the phallus, total urethal lengting, scrotoplasty (no implants) , colpectomy , glansplasty. The second stage after few months ( i guess 6 months ) you can have erectile /ball inplants but there is one BUT : you must have some sensation in your penis. If not: no erectile
So since they do it in one stage you have no choice ( so to speak). Advice from me to you: yes do it. Why? Because if you don't you will be still thinking about it and even feel dysforic about it. I know one guy who had phallo without urethra lenging and he is 'missing' something, so at the end he went for the operation.
About the complications, yes there is a (big) risk to get them. That is because making an urthra is hard and it is even harder in a new penis like a phallo. The urethra is then 90% longer. So there can be many risk with it. But don't worry. All problems can be solved. NOTE: i speak from experience from UZ Gent Belgium!
To be honest, i had a hard time you know. I had (many) complications and that made me sad, lonely and even some regret! One day i couldnt pee and that was the hardest and painfull day in my whole live and i would never experience that again ever!
Now i can pee good. Well since i have private problems (not trans related and has nothing to do with the new phallo or urethra) i still need some operations. i have some kind of kidney dease because of an accident. So my penis makes it a little bit harder. Well i can't explan it in English

If i where you i would go for it. Just close your eyes and i know for sure everything will be oké Be sure you go to and experience hospital WITH ALSO an good urologic team though!
Good luck