This is a great idea. I do the same thing pretty much but have two long and short ones that I keep under my bed.

I usually keep mine in nightstand drawer, its got a lock on it which is great for keeping things private. Though my mother did find one of my vibrator's once when I was 19. It was early in the morning and I had fallen asleep with it on my bed and hadn't cleaned/stored it yet. She came over unannounced and when I went to get dressed she followed me into the bedroom. I tried stuffing it under my blankets, etc. but she found it. At the time my mother still thought I was a virgin, it was completely awkward for us both. I still have trouble thinking about it.