Information Gathering - Tips & Techniques

The most important part of the home inventory process is, of course, the information-gathering process.

In this post, we'll discuss the information you will be collecting.

First, the "overview" items that you will need to collect:

• Home or apartment's overall square footage
• Type of design (i.e., "Colonial" or "Raised Ranch")
• Number of bedrooms, baths
• Size of lot
• Year constructed
• Builder (if known)
• Purchase price and date
• Current assessed value
• Appraisal information (if available – be sure to note date appraised)
• Photos of front of house and back of house
• Mortgage company
• Amount of annual property taxes
• Real estate agent information
• Home insurance information (policy number, copy of policy, expiration date, agent contact information)
• Title insurance (binder number)

What information to collect on items inventoried:

• Description (especially distinguishing features)
• Serial Number
• Purchase Information (date, vendor, price
• Appraisal information (if any)
• Warranty information (length of warranty, who with, contact information)

Substantiate this information with supporting documentation -- receipts, appraisal documents, photos of the item, etc.

You can create your own reporting method (using Word, Excel, or another database program), or you can purchase software applications which organize the inventory information for you. One of the most popular software programs is The Complete Home Journal Business.