Islamic home loans work great with older homes tooOctober 18, 2014 at 6:42 pm
Once you’ve made the decision to finance your home purchase with Islamic home loans one of the other big choices you need to make is between newer or older homes. While the case can be made for both, more and more people are choosing to use the money they get from the Islamic mortgage loans to buy an older property for several very good reasons.
- An older home is probably in an established location with schools and amenities. If you’re looking to be close to shopping malls and transportation that has been well-established, an older home might be the better choice.
- Older homes generally have the landscaping in place. If you don’t have a green thumb or can’t be bothered planting trees and shrubs, buying in an established neighborhood means that somebody has more than likely already gone to the trouble.
Financing your home purchase with Islamic home loans to get an older house can also mean that you will have more architectural features. While the newer places generally have the most modern appliances and up-to-date windows, older houses have those extra touches that people look for like crown moldings and French doors.