Yeah. I did something kind of like it once. I used a completely original character, but my partner had her character be the daughter of Oliver Wood. Our plot line was something along the lines of rising house tensions as the Wizarding World came closer to a second Wizarding War. I'd be interested in doing that again (mainly because my partner quit on me). Or we could just play out their lives without any major plot ideas. 

It's up to you :)