I'd like to revive my dad's practice of burning kemenyan on every Thursday night?

If that makes sense in your family's spiritual tradition, by all means burn incense in honor of the spirit of the home. Some cultures prefer different kinds of offerings - but if your dad burned incense, that should work. In some cultures, it is preferred to create a separate altar for the spirit of the home - but your Buddhist / Taoist altar might work. In the end, all an altar is is a sacred space dedicated to a purpose.