Posted by: islamicfinancingnews | June 3, 2013

Islamic mortgages and land matters

Kita-Disyorkan-Memilih-Islamic-Loan Obtaining Islamic mortgages to buy that home where you’ll raise a family and stay Sharia complaint without Riba is a wise financial move that will help to maintain spiritual values. Choosing the right home means you need to consider a few questions about the land the structure sits on as well.

Grading around the home is important. Without the earth properly sloping away from the foundation of the house, you could wind up with water damage from runoff that pools against the concrete. A quick walk around the property you’re looking at will tell you if there’s been some maintenance work done on the grading at the sides.

Where the structure sits is also an important consideration. If the home you like the best sits down in a ravine or gulley, the aesthetics you gain might not be so enjoyable when you think about water and melting snow running down to pool at the side of the foundation. That’s one of the reasons that a home situated on a hill is considered a better buy than one on low ground under some circumstances. The size of the lot matters too. While it will cost more in taxes and upkeep, one of the advantages of a larger lot is that it may also have future development potential.

There are many things to consider when buying a home and Islamic finance products can help with your selection process.

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