Posted by: islamicfinancingnews | September 19, 2012

Islamic loans are only a part of what you need to consider

So you’ve made the decision to buy a home and enter the North American market. Of course as a practicing Muslim, you’ll want to get one of the Islamic loans that are becoming more and more commonplace.

When you’ve secured one of these Islamic mortgages and bought a home, you’re really only at the starting point as far as the finances go that you’ll need to keep the place running. Here are a few other things you’ll need to consider as you embark on your home ownership journey.

  • Upkeep. There’s always something that needs to be done around a home to make sure that you’re protecting your investment. For example, you need to look after the grading around the sides of the home so that rain water and runoff drain away. There’s always some spots that need caulking and painting or weatherstripping as the seasons dictate as well.
  • Renovations. There’s usually a room or part of a space that can use a little upgrading. Here you need to pick and choose the right projects since you want to carefully balance the costs with the expected returns when you go to sell the house.

Remember that getting the right Islamic loans usually only gets you in the door. There will be lots of decisions you’ll need to make after that to keep your home running smoothly.

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