That method sounds fine. And how great that you'll be able to spread out into a designated room in the new house.
I use the 2 gallon Hefty bags, and sometime the huge blue Hefty bags, to make sure that everything needed for the each project is in one place.
'Cause it might be years until you actually get to sewing that particular quilt top. And it is NOT fun to go searching for that one half yard of special fabric you were planning on using. Not fun at all.
Oh, and welcome!