Would this be dumb - I think it is a good compromise?

My boyfriend and I have been together for almost ten years (we're only 23) and are talking about getting engaged. I have had my heart set on a big sparkly ring for years but I understand it is not in our budget right now. I would rather put the money towards a house or something more important, but my boyfriend doesn't want me to have to settle for a small ring. I have a gorgeous three stone ring that in inherited from my great grandmother a few years ago that I have wanted to get reset - but my boyfriend doesn't want to propose with a ring that he didn't buy. I have always liked how having two wedding bands look - so we were thinking that he would buy me both bands - one that he would propose with and one that would be my wedding ring. I would also wear my great grandmothers ring but in between the two bands to make it look more traditional. Does this sound like a good compromise for our current situation?