Posted by: islamicfinancingnews | May 14, 2013

Islamic finance and home upgrades

islam-81 Understanding the best upgrades that will add value to your home now and give you a return on your investment later is as important as knowing the requirements for Islamic loans to help you make these upgrades possible.

Of course, the kitchen and bathroom are the two most popular areas of your home where aesthetic changes can make a huge difference. For example, a granite countertop, new lighting fixtures and stainless steel appliances in the kitchen, or an innovative showerhead or faucets in the bathroom will not only give these areas a whole new look, but offer an economic benefit as well. According to calculations from the Appraisal Institute of Canada (AIC), these types of renovations offer anywhere from 75 percent to a 100 percent return on your investment. The experts at AIC suggest some other upgrades that are likely to add value to your home.

  • Replace old or outdated floors. Replace worn carpet or tear out used carpets completely and install laminate flooring. Even refinishing existing older hardwood floors will give your home a polished look and feel.
  • Ample storage and closet space including built-in shelving, hooks and hangers will help to organize your belongings with effective space saving solutions.
  • Don’t forget about energy upgrades like solar roof panels, an EnergyStar certified furnace, or energy-efficient windows to help reduce your carbon footprint and save money on energy costs as well.

When you’re considering upgrades to your home, Shariah compliant Islamic finance options make it easier.


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