Put the bag by the most likely exit door.
If you have your own home, put it outside. If you don't have an outbuilding or garage, get an old water heater, cut out one side, stuff the bag in the water heater and turn the heater over so the cutout does not show. The water heater method works real well in the basement of a house for valuables and guns as damn few burglars turn over old water heaters. If there are is items sensitive to heat or cold, keep them indoors near the likely exit door.
Bountyhunter