fbpx
Is Your Home Inventory Up To Date?
A current inventory of all the personal items in your home is important and even necessary, if you are faced with filing a police report or insurance claim. The homeowner is usually asked if they have a home inventory. If not, the homeowner can reconstruct one to estimate the loss. Imagine you are in this […]
Is Your Home Inventory Up To Date?
A current inventory of all the personal items in your home is important and even necessary, if you are faced with filing a police report or insurance claim. The homeowner is usually asked if they have a home inventory. If not, the homeowner can reconstruct one to estimate the loss. Imagine you are in this […]

51513f05-c212-45ce-b15a-330ca120b5ba.jpg

A current inventory of all the personal items in your home is important and even necessary, if you are faced with filing a police report or insurance claim. The homeowner is usually asked if they have a home inventory. If not, the homeowner can reconstruct one to estimate the loss.

Imagine you are in this position; would you be able to make an accurate list of your belongings and their value? As an exercise, pick a room of your home, and, while being in another room, list all the belongings and their value. When you’re finished with the list, go into the room, and check to see how you did.

This little project should demonstrate the difficulty of reconstructing a list and depending on whether you missed a lot of items and the importance of having an up-to-date home inventory. Not only will this help you purchase the right amount and type of insurance, having an accurate inventory will make filing a claim easier.

An accurate accounting of your belongings can also help you and your insurance agent to see that your belongings are properly insured. Other reasons for a home inventory include creating a maintenance calendar and helping you declutter by getting rid of items no longer needed. Over half of households do not have a home inventory and the majority of those who do have them, haven’t updated them with new possessions purchased since it was done.

The peace of mind having one can be a strong reason for having a home inventory. It provides confidence that this area is financially organized and prepared should you have need of proving losses. It will help you and your family return to your normal life after an unsettling event.

Download our Home Inventory for more tips on creating one along with alternatives for documenting your belongings. If you don’t have another media, this will allow you to take pictures and list individual items along with values in a fillable PDF that can be stored safely in your online cloud.

LIST OF BLOGS

Good Records Can Reduce Capital Gains

Regardless of whether you're entitled to $250,000 or $500,000 of exclusion when you sell your home, prices have gone up so much in the past two years, you may be approaching the limit where you might have to pay tax on the excess when you sell. Any improvements you...

Moving Down in an Up Market

Selling and buying a lower priced home in an "Up" market can be to your advantage. The advantage is to maximize the sales price on your existing home and replace it with a less expensive one. Moving down in an "up" market may be to your advantage...

Showing How Earnest You Are

The expression "putting your money where your mouth is" demonstrates a monetary sincerity to what could be empty words. In today's competitive market where multiple offers are common, sellers want as much assurance as possible that the buyer is sincere and...

How to find a Herndon home for Sale at a Reasonable Price

How to find a Herndon home for Sale at a Reasonable Price Using a free online search tool is good, but it does not consider buying strategies, insight into creative finances, long-term economic trending, and repair vs. replace cost benefits.  Here is why working with...

Own a home is the key to Wealth Homeownership is the key to …

Own a home is the key to Wealth Homeownership is the key to Wealth, home owners have 40 times the house wide range than tenants. One more impressive fact is that homes have 68% of their wide range in their main home! Property owners have 40 times the home riches than...

What percent people Families Have their Entire Wealth Locked…

What percent people Families Have their Entire Wealth Locked Up in their Home Property owners have 40 times the home wide range than occupants. One more impressive figure is that homes have 68% of their wide range in their key home! Home owners have 40 times the house...

Home ownership is the secret to Wealth

Homeownership is the secret to Wealth, homeowners have 40 times the household wealth than renters. Another astonishing statistic is that households have 68% of their wealth in their primary residence! Leveraging the philosophical cliché “Time is money” is not only...

Why a Home Should Be Your First Investment

Real estate has been described as the basis of all wealth. Without considering income or investment property, buying a home to live in is an incredibly powerful way to build wealth or financial net worth. A home is an asset measured by the size of the equity. Equity...

Paying Points to Lower the Rate

Two commonly known ways to lower your mortgage payments are to make a larger down payment especially if it eliminates private mortgage insurance and improve your credit score before applying for a mortgage. Another way to lower your payment would be to buy down the...

RECENT POSTS

ABOUT  TWENTY
THREE HOMES

The Twenty Three Homes are one of the premiere real estate groups locally, nationally and internationally, specifically dealing with high-end properties and exclusive clientele. Partner with Keller Williams Twenty Three Homes are full service real estate experts whose clients benefit from the custom tailored, hands on service while receiving all the exclusive amenities and resources of one of the most established and respected firms in the business.

GET IN TOUCH