Summary
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Creating a household inventory sounds like it can be a lot of work, but it can come in handy. (And a little spring cleaning never hurt - no matter what time of year.)
While it is advisable to do an entire inventory, do what you can now. Consider dividing up the rest of your home on a time line. For example, do the living room now, the kitchen next month, your bedroom the month after, and your child's bedroom the month after that -- setting reminders on your computer or in your diary to keep you on track.
As items are purchased or given to you as a gift, add them to the list immediately.
You can complete your inventory on the computer, or print it out and walk around your home with the paper version.

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