By Jennifer Morehead
I put together a home inventory because I wanted to know the value of the stuff in my home. I thought, if I can log into a website and see the exact value of my investment portfolio, why can’t I do the same for my home inventory portfolio?
In our household we keep track of insurance, investments, bank accounts, you name it. But in the past we weren’t diligent about recording information for the things in our home. And when you add up all of your stuff it equals, on average, 70% of the value of your home. Considering that the average U.S. home price is nearly $275,000, that’s coming close to $200,000. Can you believe that nearly $200,000 usually goes unaccounted for in most households?
I talked to different claims adjusters, and combined with surveys I did on home inventories, it seems that approximately 12% of the population has made a home inventory.
The process we created on Lockboxer is easy to follow. You take a few pictures of each room and closet in your house, upload your pictures, and then our website makes it easy to “grab” details about your stuff. It only takes an hour on the site once you’ve taken your pictures.
I have talked previously about how I would like to run my household like the floor of a successful retail store with old inventory being sold at a discount and new inventory continuously coming in. It all starts with a home inventory portfolio that is accurate and up-to-date.
Think of how you can manage ‘poor-performing assets’ like the couch in your basement that is only losing value. On Lockboxer, you can choose to make an informed decision about how and when to sell it or donate it, instead of rushing out the door on Dec. 31 frantically looking for a drop-off donation location.
I realize that I’m talking about stuff like it has no sentimental value. I am likening my stuff to lifeless stocks and bonds. But to be honest, most of the stuff in my home doesn’t have a lot of sentimental value. Maybe that’s just me or maybe it’s the current state of our society where you can pick something up at a store and there wasn’t a lot of hand-craftsmanship that went into it. At any rate, I hold certain items very dear but for the most part, I’m happy to have a home inventory portfolio that lets me effectively manage the stuff in my home.