Posted by: islamicfinancingnews | November 27, 2012

A good Islamic finance package needs to consider how location affects resale

When you first start looking for Islamic finance funding to purchase a home, you’ll soon realize you need to make several big decisions. Staying away from Riba and compliant with Sharia Law are very important considerations, but the issues surrounding where the property is situated is another factor that can affect resale down the road.

Here’s a few things to keep in mind.

  • Transportation. You might have your own car or you might get someone to come and give you a ride to work or wherever you need to go, but that doesn’t mean looking for a home that’s located on or near a bus route isn’t a good idea. Properties with convenient access to public transportation routes have greater resale value than those that don’t and you can concentrate your home search on an area that offers this kind of infrastructure.
  • Shopping. Proximity to amenities such as food stores, drug stores and hardware stores make the price of your home increase. Unless you’re planning on looking for a home in the country, these are necessary staples for any location.

You need to get the complete package when you’re looking at Islamic finance. However, it is equally important to make sure your new home is in the right location so you can count on good resale value.

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