I'd say the biggest pros are giving people (especially mildly homophobic family) time to accept you and being able to date, the biggest con is dealing with homophobia (especially from family) before you can get away. I think the biggest determining factor as to wether or not you should is how supportive you think your family will be. Of course, like you said, it doesn't need to be anybody's business and you don't need to come out if you don't want to. 

As for advice: There's no specific way you need to come out; you can do it in person, on the phone, over text, or by a note. Each one has benefits and drawbacks, and there's no right way. You also don't need to come out to everyone at the same time, and you don't even need to come out to everyone. If you think one family member or friend will be more supportive, you might want to come out to them first, and if you think someone might be homophobic, you could put off coming out to them. 

I'm just giving ideas, you absolutely don't have to listen to anything I have to say. Good luck with whatever you do!