Ijara loans and the size of the house you needFebruary 25, 2014 at 5:33 pm
The amount of the Islamic home financing you get will more than likely help to determine the kind of house you can afford, but there are some other factors to take into account to pick the size of the house you need.
- Consider your future plans. Many newlyweds will buy a home with Islamic mortgage loans thinking that while they might want to have a family down the road, a small home is what they can afford presently. If you can afford the extra stretch on your budget, it’s worth considering getting some extra space now to save on moving expenses as your family grows.
- Think about your relatives. You might be buying your first home to start your own family, but you may need to factor in older relatives who will come to live with you when they need the extra help. An extra room that can be converted on a main floor works well.
Regardless of the size of the place you finally decide on, islamic mortgage loans are the best way to finance the purchase and stay Sharia compliant.