Posted by: islamicfinancingnews | May 11, 2013

Renovations to your home are possible with Islamic loans

islam21 Buying your first home or next home can be exciting, but homeowners can also obtain Islamic finance alternatives like Islamic mortgages to fund renovations to their current home.

Rather than relocating to a brand new home or an existing home in a different neighbourhood, more and more people are choosing to stay where they are and fix up their present home to suit the existing or growing needs of their family. Not only will you avoid the stress of having to pack up your belongings, as well as the expense involved in the selling and buying process, but undertaking the right renovations could add value to your property.

Remodelling your home means you make the choice as to which features you want such as an addition to a kitchen or outdoor deck, finishing a recreation room, or adding that extra bathroom. These types of renovations can also be a cost-efficient alternative since the expense involved is often less than purchasing a newer home with the same features. Finally, many homeowners express satisfaction from the fact that renovations allow them to stay in a familiar area where they enjoy close proximity to places of worship, schools and other amenities.

Talk to your lender about the different types of Islamic loans that are available to undertake renovation work to your home.

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