Wakala and Picking the Right House
Once you have all the Islamic financing straightened away including Wakala, you can get swept up in the excitement of buying a new home. However, you don’t want to make any mistakes so showing a little patience will make your new place a nice nest rather than a nuisance.
You need to show a little self-restraint and work through a few different boxes that you check off as you go along. One of them is renovation potential. If you take a look at a house you really like, make sure you understand how much work is involved. What’s more, you’ll want to be able to see how much of it you can do yourself.
Make sure that you don’t over estimate how much potential the place actually has. There’s time and expense involved in all aspects of homeownership renovations and Wakala. When it comes to renovations make sure if you can’t do the work, you get some estimates so you know how much it’ll cost to get some subcontractors.
Don’t just settle for one or two here. Usually, it’s a good idea to get three or four different estimates so that you can get some ballpark figures. Remember to ask for references and past testimonials from contractors too.
Keep in mind that some remodeling projects should rule the house out entirely. For example, if the kitchen needs enough work you won’t be able to use it and the house doesn’t have another one, you might want to move on.
Finally, don’t be deceived by the cleaning that they present owners have done to try and entice you. Buying a home is a critical process and you should take a hard look at the one you’re considering. If it needs new windows, it doesn’t really matter how clean the old ones are.
Remember to stay sharia complaint and implement notions like wakala too. Email us today to learn more about these Sharia compliant options.