A House-Hunter’s Insurance Guide to High-End Mobile (AL) Homes

The real estate scene in Mobile (Alabama) is displaying a curious trend and quite unlike what is right now prevalent in most other regions of the United States. The housing market here has failed to make an appreciable recovery following the recession and the average home price in the state has actually decreased by three percent between 2012 and 2013. This observation was made by CoreLogic, a real estate research and consultancy firm and according to them, the reason for the slump in home prices may be attributed to foreclosure or short sale issues that the authorities have not been able to resolve. So this means that NOW is the right time to buy real estate property in one of larger cities in Alabama, like Mobile.

Time to Strike

The state of affairs in the real estate arena in Mobile is no different than what is prevalent in the rest of the state. This means that the some of the high-end homes in the city that you may have been eyeing wistfully for some time are actually within your budget. Get in touch with a real estate agent before these homes are taken off the market. And meanwhile, stock up on information regarding the home insurance premium rate that you may need to cope with for these high-end homes in some of the most posh neighborhoods of Mobile.

Pricing & Location

The Seven Hills (zip code: 36608) neighborhood in Mobile houses some of the most expensive homes in the city. The average value of a house here is $107,200, which is a tad more expensive than the average price in the Mobile metropolitan area. The home insurance premium rate here, an average of $3,888, is also one of the highest in the entire city. Similarly, neighborhoods like Beau Terra, Lebaron Woods, and Garland (zip code: 36618) too house several high-end homes that might appeal to you. The average home prices in these neighborhoods are $91,100, $105.791, and $138,765 respectively. The residents in these neighborhoods pay an average of $2,377 as home insurance premium.

Smart Shopping

So now that you have a fair idea of how much you need to fork out for home insurance for a high-end home in Mobile, you can weigh the pros and cons of various options. However, if you manage to zero in on a too-good-to-be-true house bargain, do not forsake it just because the insurance premium stretches your wallet. Remember that you can obtain genuine discounts from the carriers if you keep in mind the following considerations:

• Shop and compare home insurance rates from various providers before buying.
• Buy multiple policies from the same carrier.
• Upgrade your new home to withstand wind and water damage.
• Pay premiums on time.
• Do not buy more coverage than you need. For instance, heavy snowfall is a rarity in Mobile. So, it will be foolhardy to buy additional coverage for damage from snow.

Mobile is a thriving and bustling city in Alabama with numerous job opportunities and a considerably laid-back lifestyle that allows you to socialize as well. It is only unfortunate that this vibrant city is in the throes of a housing slump but on the other hand, this provides you with the golden opportunity to buy a high-end home here and also enjoy fine insurance discounts with some smart moves.