Question about Homeowner's Insurance in Mobile (sales, 2009, condo)

[bls5555]

How much does a person typically pay on a $150,000 house in Mobile?

Also can anyone give me advice on good schools in Mobile or the suburbs (elementary schools)?

[bullittman]

about $1700 to $1800 a year with a 2% hurricane deductable. west mobile and the eastern shore (baldwin county) has good schools.

[bls5555]

Originally Posted by bullittman

about $1700 to $1800 a year with a 2% hurricane deductable. west mobile and the eastern shore (baldwin county) has good schools.

so $1700 a year or so plus another $3000 or so hurricane deductible? So about an extra $400 to $500 on top of the mortgage payment? Wow. That's a lot.

[Threestep]

Why would you pay a deductable? It applies to claims only.

[bls5555]

Originally Posted by Threestep

Why would you pay a deductable? It applies to claims only.

Wow, Im so sorry. I didn't read it correctly. I thought you were breaking apart what you paid to the insurance company each year.

So $1800 or so total, and if you have to make a claim than your deductible of $3000 or so would come into play.

Basically your paying $115-$120 each month on top of your mortgage payment. Then the 2% comes in to play if you need to make a claim.

Gotcha. Thanks a bunch for the info.

[bls5555]

Will I be able to find a nice house in a nice family area for between $125,000 and $150,000 (Im not talking anything extravagant. Just a normal family neighborhood with good schools)?

From Yahoo
Projected median sales prices for single-family homes:
Q1 2008: $134,580
Q4 2009: $140,920
Growth rate: 4.7 percent

From City-data.com
Estimated median house/condo value in 2005: $97,000 (it was $81,400 in 2000)
Mobile $97,000
Alabama: $97,500

How can these be so different? I realize the last one is in 2005, but that is a huge difference for just 3 yrs.

Does the Yahoo one take into account suburbs and such, and the city-date numbers dont?

[bullittman]

yes , $1700 to $1800 a year premium with a $1000 deductible. if the loss claimed is for hurricane damage the deductible is 2%, $3000 for $150,000.

[Threestep]

What are your needs? What are you actually looking for? What are specifics to take into consideration?

[bls5555]

Originally Posted by Threestep

What are your needs? What are you actually looking for? What are specifics to take into consideration?

3 beds (preferably 4), 1.5 baths, good elementary school, nice family neighborhood.

Those are the requirements.

Prefer older neighborhoods. I really dislike the newer subdivisions.

That's about it.

[bama mom]

Originally Posted by bls5555

How much does a person typically pay on a $150,000 house in Mobile?

Also can anyone give me advice on good schools in Mobile or the suburbs (elementary schools)?

Before you think about Housing you should check out the school systems. Everything is available on the internet for the public school systems. Compare Mobile to Baldwin County. I don't know why but there seems to be a BIG difference! Housing may be less expensive in Mobile but if your children end up in a private school you really haven't accomplished much.