Islamic home financing and picking the right propertyJuly 24, 2014 at 11:39 pm
Getting the right property is more than half the battle when it comes to becoming a home owner. Getting Islamic mortgage financing is considered to be the right first step to make sure that you stay away from riba but it’s also important to find a property that suits your family’s needs for the time being as well as into the future.
Here are a few tips to help you along in this process:
- The property needs to have amenities close by including a grocery store and home improvement store if you plan on doing a lot of the work yourself. Making sure there is adequate transportation is another asset. You might not need buses and streetcars right now but as you grow older these will come in handy.
- Look for future potential developments . A subdivision that’s going to be further developed usually means your home will rise in value accordingly. You might need to put up with some construction noise and other nuisances temporarily, but your equity will go up in the long run.
Islamic home financing will help to finance the right property once you decide what that is. Click here to read How It Works.