I've noticed a point on my spine with a buzzing sensation that radiates occasionally, should I be worried?

Maybe. It may be nothing, and it more than like is. However, when something is irritating a nerve coming out of your spine, such as a pinched nerve caused by a disk, it can cause similar symtpoms. I would get an MRI of the spine in that location.
Lumbar radiculopathy. If you have back pain, with numbness/tingling or pain down a leg this is likely due to irritation of a nerve root in the leg caused by a disc herniation most commonly. An MRI of your lumbar spine may be warranted. Seek advice from your primary care physician.