Posted by: islamicfinancingnews | September 11, 2012

Preparing for home ownership is easier with Islamic mortgages

Making the change from renter to homeowner is one of the biggest decisions you’ll ever make and being well prepared for this type of move includes obtaining the proper Islamic mortgages free from Riba to make the financial transition easier.

Some common sense rules should apply to the home selection process that includes finding a competent real estate agent you can work with. That means a mutual understanding of the type of house or condominium property you are looking for, your price range, and any particular features you want. For example, you may prefer a smaller house with a large yard and garage space for two vehicles, or a condominium property that is centrally located to all the amenities and is pet friendly. It’s important to effectively communicate your preferences to an agent to avoid wasting time looking at properties that don’t suit your lifestyle. Work out details about the best ways to communicate, either by phone, e-mail or text, and how often you expect to receive updates.

You can view all kinds of different properties on the Internet yourself. You need to find a good agent to share their expert knowledge of the real estate market in general and narrow down the best choices in home selection for your specific needs.

Buying a home is one of the most important purchases you’ll ever make and having the right Islamic finance behind you will ensure your investment in home ownership is secure.

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