Home sharing

What do people think of the idea of me setting up an iTunes account without a payment method for my house, then using that account just for home sharing so that any member of my family, who all have iTunes accounts of their own, can stream to an Apple TV, which I will be getting soon? Will that work? So far, I have been unsuccessful in even creating an iTunes account without a credit card or a gift card... Also, I don't have the Apple TV yet, so I don't know what it can do, but I don't want everyone in my family to use the same Apple ID. Will my idea work, or should I do something else?