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How to Estimate the Value of Household Goods

Are you moving on short notice and want to insure your belongings, or you need to determine your tax deductions? Perhaps you want to know the worth of your furniture and other possessions before you send them off with the movers. If that is the case, you may be wondering how to estimate the value of household goods. We offer some handy tips on how to establish the worth of your belongings, from making an item inventory list to using internet calculators and appraisal experts.

How to Estimate the Value of Household Goods – Make an Inventory List of Items

Whether it’s a household inventory list for moving or a photo inventory for insurance, having a shortlist of all the belongings you want to evaluate can be very useful for a number of reasons. So put together a list of your belongings and include any important information in separate columns, be it the item’s condition, make or serial number, hallmark or signature. Write these down as it will help you in getting them evaluated and appraised.

Adjust the List of Your Stuff as You Go

As you’re going through your possessions over and over and evaluating them, you’ll be adjusting your inventory list. So remember to leave space in the price columns, as well as the condition one if you have stuff you want to get appraised by professionals.

Use Internet Calculators, Websites And Local Stores to Evaluate Your Products

One of the best tips is to turn to modern technology. You can find your items on various websites, such as Craigslist and eBay, and find the prices they’re currently going for. Here you can see the average costs that people online are willing to pay for them. If you can’t find your specific belongings, you can search for similar ones.

There are also different home content calculators that you can use when evaluating your belongings. You can look up your possessions, or similar ones, and use the calculators to compare prices. Keep in mind that using online calculators, however, could raise some privacy concerns.

If you have the time to do it, which may be a problem if you have to organize a last-minute move, you can check local stores for prices. Browse around the stores in your area, look for items similar to yours and write down the prices. Whether we’re talking about kitchen appliances, electronics, outdoor equipment, or clothes, this will be useful when trying to determine the value of your things.

Turn to the Appraisal Business If You Need Further Help

If you still need some help, you can count on professional appraisers. There are national organizations that can help you out, or you can turn to private ones. They will have all the knowledge and experience which you may lack and will know how to help, and you won’t have to worry about the privacy of your information. Counting on professionals is always advisable, especially if you’re moving home for the first time and considering whether or not to hire expert movers for the job.

Get a Fair Estimate by Comparing Prices

Once you have gone through all the prices, both online and in your local stores, you’ll want to write them down in your inventory list. Hopefully, you have gathered enough information and will have enough different numbers to roughly determine the value of your stuff. Add up the prices, divide by the number of entries, and you’ll have yourself an estimate of the average worth of your belongings. Write these down again in your shortlist next to the items themselves.

Getting Insurance for a Variety of Reasons, Like Severe Weather

Once you have determined the price of your personal belongings, you will know what kind of insurance you need. And it is highly advisable to insure all of your belongings, especially for a long-distance move or an international relocation. Maybe you will be moving in bad weather, which is a frequent occurrence during winter months. Even if you’ve paid for reliable long-distance moving services, as well as packing services, you can never be too sure when it comes to the safety of your stuff. Though you’ll feel much better knowing that everything is in the hands of professional movers, accidents do happen and, if they do, you’ll want to have insurance for your belongings.

Personal Property Insurance

Maybe you have heard about people asking for a replacement cost estimator and wondering what it’s used for. Most, if not all, personal property insurance is based on the purchase price of the items, and when that’s not possible, the determined replacement value is used. If you have any safety concerns or signs of moving stress while packing fragile items, packing clothes, valuable furniture or kitchen appliances, the best way to cope with it would be to get it all insured.