If you talked to your children and asked what toys they wanted to keep you might be surprised. I just went through my children's toys with them and they willing bagged up 3 large trash bags full of toys that they didn't want/didn't play with. I had NO CLUE there were so many they didn't want/didn't play with and some i would have never gotten rid of myself because I thought they adored them. Now the playroom is a ton cleaner..
As for the migrating toy issue.. We have it here too. A couple of hints that work for us..
- one toy or one bucket out of the playroom at a time. If another toy is wanted they have to pick up the first one, return it and grab the next one.
- a small bucket in each room (except bathrooms and kitchen) with a few small toys in it.. generally used for my youngest since hes a bit to young to understand the 1 toy at a time rule (hes 16 mo)
- puzzles and toys with pieces are kept up where they have to ask me for it.. Its a bit of a pain (specially since they LOVE puzzles) but it keeps them from being ruined by the baby. Again hes 16 months old, he doesn't understand why putting puzzle pieces in his water cup is a bad idea
- open ended toys, every toy we have can be used for multiple purposes. I don't get toys that can only be played with a certain way.
- Don't feel the need to keep something because its a gift.. My daughters gave away almost every Christmas present that they received from my in laws because they weren't things they wanted to keep/play with. I don't feel the need to keep things because so-and-so gave it to them. Please no one tell my in laws their gifts didn't even get opened, it would definitely not be appreciated!
- Outside toys are kept in the storage room outside or in a container on the porch. They don't come inside since I don't want the dirt coming in with them.
- we clean up several times a day.. usually we do daily chores in the morning, quickly pick up the toys before lunch or before we leave the house and then again before DH comes home for work. If the children refuse to help clean up it shows me they have to many toys to take care of them properly and the ones left laying around (with the exception of comfort animals that never get "put away") get packed up for 1-2 weeks. Ill bring them out again after 1-2 weeks to see if the children are now willing to help take care of them.
- if its broke it gets trashed immediately unless there is some emotional attachment to it (like a stuffed animal our dog tore up, I let my middle keep the shreds until she was ready to part with it.. took about 2 days for her to be ready to say goodbye).. My kids are pretty good about it and will bring me toys when they break. Ive explained that we don't keep broken toys since 1) they aren't good to play with anymore and 2) they could hurt the baby.. Since my son cut himself on a piece of plastic once before I could get it from him and both girls saw they realize its just not safe to have broken pieces laying around.