[ubuntu] New Partition for 16.04 while keeping 14.04

My current desktop setup is a Dual Boot of Win 10 with 14.04 with separate / and /home partitions.
It is working just great so the last thing I want to do is pooch the system. (it is backed up; DejaDup)
I've "trialled" 16.04 via a bootable USB and all seems good, though admittedly it's a limited testing.
Rather than wait for the Upgrade option to appear in a few months, I'm considering creating another partition for 16.04 that, hopefully, can access the same /home that already exists.
So my thinking is, use gparted to create another partition from /home (which is ~1.5TB of a 2 TB drive) and install 16.04 to it. Which looks too easy and maybe it is but I'm looking for advice to anticipate trip-up points in this process. Ultimately and assuming 16.04 works fine, it would become my day to day Ubuntu system and next time an LTS is released, it would be installed on/over the current 14.04 partition.
Can you find fault with my thinking or advise a better way? Will the bootloader possibly be a problem? (I'm not sophisticated enough to predict y/n!)

Below is my current list of partitions (the WIN7 is really WIN10 but the original name has persisted after upgrading to Win 10):

/dev/sda1 ntfs Recovery (not mounted)
/dev/sda2 ntfs WIN7 (not mounted)
/dev/sda3 ntfs DATA (not mounted)
/dev/sda5 ext4 /
/dev/sda6 ext4 /home

Thanks for suggestions!