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A folder called 'House' and a variety of projects within it is one way of doing it

You can do it just the way you say - but quick entry doesn't give you access to children

You say you are new to OF - how new are you to GTD? Sorry to ask but the way you've laid out your approach doesn't look very 'next action' - ish

What it DOES look like is quite a few projects that could be running parallel under the banner 'House'

Sorry to be boring, but it's important