Ijara financing and budgeting - ijaraCDC

Ijara financing and budgeting

Ijara financing is a sure-fire way to get yourself some real estate that can help your family’s fortunes grow,  but you need to be sure that you understand an ijara loan is just one part of the financial puzzle that you need to put together to successfully run a household.  There are several other factors that go into that entire package and following are just a few of the things that you need to consider.

  • maintenance costs.  If you were renting before you got that ijara loan,  everything by way of maintenance was looked after for you.  There was no need to look after plumbing or roof of the building where you lived of take notice of how old the appliances were. Now,  you need to look after all that yourself and ijara financing can help you there.
  • utilities. The landlord where you lived paid those bills for you when you were renting but a homeowner needs to look after the lights and heat by themselves when they buy a place of their own.

Understanding your responsibilities with ijara financing means that you need to be aware of the new costs that come with the keys to that new home.