Yes, I make it all the time, and no, I have had no problem with it. I was told that you should only use it for articles that will be washed frequently since it is made with cornstarch which might invite "critters" like moths and stuff. However, I have had no trouble with it so far and it sure saves a lot of money. It's best if you keep your homemade starch in the fridge and don't make too large a batch at one time. The thing I like about it is that you can tweak your recipe to make it a lighter or heavier starch.

I found the Niagra spray starch at our Target and save my bottles when they are empty. I use them for water when ironing, etc. I may use one for homemade starch.

my Mother used to boil a potato and strain the water, that was her starch. These are the kinds of things you do when money is tight.