Home Inventory: How to Create One and What to List

It has always been a Scout’s motto to “Be Prepared.” If you really want to be sure you’re ready for anything, a home inventory can come in handy.

Many clients ask me how to value what they have in their homes. Whether you are seeking renters’ insurance for your belongings or want to make sure your homeowner’s insurance covers everything inside the house, you need to create a home inventory.

Let’s explore exactly what a home inventory is, how to prepare one, and what to do once you’ve made one.

A home inventory is a list of items in your house or otherwise on your property. You can decide the level of detail this list may contain, but I recommend being as thorough as possible with a lot of detail. If you’re going to do something, after all, you might as well do it correctly the first time.

When listing items, simply go room-to-room. Once you enter the room, jot down all the items in there. Let’s say you start in the living room. Start with large pieces, like furniture. Your television, your coffee table, lamps… put it all down on the list. Don’t forget the toys in the garage – that goes on your home inventory, too.

Along with this basic list, it would be ideal to add details such as:

• Its purchase price
• Where you bought the item
• Any serial number, receipt, or warranty
• Its approximate value or cost to replace

You can continue going through your home just like this. Don’t forget things on the walls, such as artwork, or jewelry in your jewelry box. Open cupboards. Dig through drawers. Be thorough in your search.

The method of your inventory is up to you. Maybe you’re a pen-and-paper person. Amazon sells inexpensive books for this project but a simple notebook works just fine. You can also use a digital record like a spreadsheet or app.

Whichever method you select, it is ideal to back it up. Save your digital files in a space that you can reach from everywhere, like Google Drive or other cloud storage. If you’ve created a paper version, put it in a safe and/or scan it to store it digitally. 

Preparing for the worst may seem silly sometimes. Will you really need to remember how much you paid for that couch from 10 years ago? Let’s hope not. But it is great to be prepared, just in case. In the event of any loss, from robbery to fire, flood to alien invasion (hey, who knows), it is ideal to have a list of all you’ve put into your belongings and proof of costs to have them replaced.

Such home inventories can also help you realize just how much your belongings are worth. So many people may estimate a low figure for replacing their personal items, but it really adds up. Creating an inventory could help you tally up what it would realistically cost to replace things.

The holidays are on the way! And if you are like many homeowners, even MORE items are out for the holidays that may otherwise be packed away in your attic or garage. Go ahead, inventory that giant inflatable Santa. Add the prices of your heirloom ornaments. Those things add up, too. Your home inventory should be very detailed.

Winter break may also provide some much-needed downtime while your kids are busy with their new toys. Put on some sweats, grab paper and a pen, and make your home inventory. Trust me, your future self will thank you!