Posted by: islamicfinancingnews | December 21, 2012

Islamic loans can help with unplanned expenses

islam-81 When you are buying your first home, it’s important to understand as much as you can about the unplanned household costs you may encounter as it is about the Islamic mortgages you use to help fund your investment. Some of the most common household repairs a new homeowner may have to deal with often involve the kitchen and bathroom appliances.

For example, plunging is sometimes all that’s necessary to clear a clog in a kitchen drain while fixing a leaky toilet tank can also be a DIY’er repair. Before undertaking any toilet repair, start by shutting the water off at the fixture shut-off valve located below the tank or use the main water shut-off valve usually located in the basement of your house. If the spud washer needs replacing, you’ll need to drain the tank completely and lay it on its side, careful not to use excessive force when removing the tank bolts that could cause the porcelain to crack.

It’s important to budget for unanticipated household expenses including emergency repairs that may require the expertise of a professional tradesman to solve the problem. Having adequate funds in reserve will help you qualify for Islamic loans free from Riba to help you deal with unexpected costs.

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