The sentence is fine as it stands. I believe this is a more common form of expression in the UK than in the US. I think of it as a slight understatement. In the US one would usually say, "That's a good idea". In the UK you often hear, "That's an idea".
I've heard from people from the U.K., "You know, it might be an idea if you ...."
In the US I almost always hear, "It might be a good idea...."
I think it sounds just a tad less pretentious not to add the word "better" or even the word "good" and let people decide for themselves if one's way is really better or even good. Actually, it might indicate a certain confidence that it is.
Edit: Forgot to address "new". "New" is similar to my "better" example which is more common, and new usually implies better.