Creating A Home Inventory – Everything You Need To Know

Working hard from your first job as a teenager to making grand figures in an esteemed company is the dream of many. If you, too, have come a long way from the first time you earned your very own income and then made all your dreams come true, you sure know the worth of each shining piece of accessory in your home. From buying a great house to filling it with luxurious possessions, a full-screen TV, the latest tech and gadgets, and glamorous jewelry, a lot many things in your home stand witness to your passion and hard work.

But imagine all that hard work coming to naught if your safe haven ever falls victim to a tragedy. Ranging from natural disasters crumbling or flooding your home, an accident burning everything you worked for, to a terrible robber plundering your hard-earned wealth over the years, there is a lot that can go wrong just in a few moments. The worst of it would be not being able to remember every exact marvelous possession and losing thousands of dollars just to forgetfulness.

Though mishappenings can not always be averted, luckily, you can stop a true tragedy from happening before ill-luck strikes you. The answer to saving yourself from losing hundreds of thousands is keeping track of each and every significant item in your home, which you would have heard of as ‘creating a home inventory.’

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What Is A Home Inventory?

Keeping track of all your possessions, mentally, is not entirely possible. Hence, a home inventory helps by keeping a record or track of all your possessions. It is just a simple list mentioning the things of value that you hold along with their apparent value.

You could take care of this task in an old-school way by jotting down all of your esteemed items in a notebook, writing their estimated values along with the possessions. Additionally, you also need to keep all the receipts of these possessions along with the list in a folder or another similar place.

However, fires, floods, and earthquakes are a few of the reasons due to which you might need to use a home inventory. So, it is best to forgo handwritten lists and create a digital home inventory that you can access from anywhere with the help of digital item trackers like Suppliful.

Why Create A Home Inventory?

A home inventory is meant to speed up the process of claiming insurances if the need ever be. A well-inventory is a sure way to get back all that you have lost. Here are some important reasons to create one for yourself.

Aids In Determining The Type Of Insurance You Need

There are many types of insurance, some providing benefits for furniture products, others backing up the loss of household possessions. Then many others that also insure beauty products, accessories, and more. But if you do not have the exact idea of all the things in your possession, you might not know what insurance plan will suit you best.

Hence, upon making a home inventory, you get the precise count and type of possessions and can mark them for individual insurances or find a suitable plan. The different options available to you can range anywhere from clothing insurance, mobile insurance, unit-product insurance, homeowners insurance, or renters insurance.

Ease Claiming Of Insurance Amount

If you have had your house for a long time, there will be countless trinkets gracing your storage areas, garage, and other spaces that you forgot about long ago. However, many of these trinkets can fetch a good price when claiming home insurance. But, if these things are already tucked away in forgotten corners for years, you will not be able to remember all that you had. Much less than actually showing proof that you did own these things.

Consequently, if you ever need to file a claim for damaged property, it will help to have a list, better if with purchase receipts. Thus you will need not worry about stressing over remembering things that you had, especially after a traumatic experience and simply submit a premade inventory for the claim.

Qualify For Tax Exemption And Financial Assistance

If you are able to prove that you have gone through significant financial loss in a disaster, you could qualify for evading tax or even apply for assistance and financial aid. A home inventory is hence your ticket to show all your possessions and file a claim for a tax break. On the other hand, a haphazard recollection of your belongings may not serve as proper proof.

Creating A Home Inventory

Now that you know all the reasons and benefits of creating a home inventory, it is time that you actually learn to make one for yourself. The process can be made quite simple by using Suppliful, an easy answer to all your home inventory needs.

The best time to make a home inventory is to begin right when you get to your new home. In this case, all your possessions already need to be installed; you can keep track of your things as you place the belongings where they need to be.

On the other hand, if you have just come across the idea of creating a home inventory after living in your house for a long time, you will just have to increase your efforts. The process still remains essentially the same. Begin with:

Start at a comfortable pace: You need not create your entire home inventory in a day or two. All you need is to begin somewhere like your closet, kid’s play area, or something less intimidating.

Create categories: You can also begin by categorizing the things into arrays like ‘decor pieces,’ ‘latest model purchases,’ electrical appliances,’ and ‘jewelry’ to have more control. Do include your off-site holdings in the list to claim insurance of these too.

Add details: To get the right insurance, the worth of your losses must be clear. Hence, mention its brand, model, price, purchase date, place and receipts, and any special features to help your claim with each listing. Note down the serial numbers of your electric appliances, too.

Ensure insurance policies: Prized possessions like art, paintings, and jewelry tend to increase in value over time. Check with your insurance provider whether you will be duly covered for the increased price of your holdings.

Maintaining The Inventory

Once you begin keeping an inventory, you can gradually add in more items from your household at a leisurely pace. After all, it is more important that you have something listed than nothing. It may take months to add in everything, and your home inventory will still need frequent updates as you bring home more belongings.

Store your inventory at a safe place so it doesn’t fall to the same fate as your household if a disaster ever strikes you. Ensure a safe place for storing the list. Apart from this, store a copy of it off-site and also have digital copies of the same.

Using Suppliful For A Well-Maintained Home Inventory

In the era of computers, why stop at a conventional home inventory? Suppliful, a digital tracker of all your listings makes accessing your home inventory, searching its content, storing information, and updating it a much easier task than a handwritten inventory.

Besides listing your holdings, you can record pictures of the products, all areas of your home, receipts, serial number, model, and more. This simple solution can help you recall where the specific product is placed and everything else that comes with it. The digital approach allows you to access all your listings at the touch of a finger, edit them as many times as you need, and easily update the list.

How It Helps

Suppliful is a simple solution to keep track of all your items along with knowing specifically where each and every one of those things is supposed to be. Hence, all of your possessions, from watches to yoga pants to your hairdryer, can be kept track of. Therefore, you can get a much more productive approach for your time than constantly looking for things that you aren’t sure where you kept them.

Suppliful comes with a ‘collections’ feature. Hence, it doesn’t just divide your possessions into ‘clothes’ or ‘jewelry or ‘electronics.’ But, more easily lets you put things into specific collections like ‘heels,’ ‘sweaters,’ or ‘handbags’ so you know exactly how much of these you own and how much they all are worth. Additionally, as you assign all these items a set location, you will always know where to start looking if they ever get lost.

Suppliful also comes with a Brands, Wishlist and Subscriptions feature. Hence, you can keep track of all the brands you home, create wishlists and shop directly from Suppliful and keep a record of all your subscriptions so that you never overspend.

If you are interested in even more lifestyle-related articles and information from us here at Bit Rebels, then we have a lot to choose from.

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