Posted by: islamicfinancingnews | December 4, 2013

Islamic loans and a good house location go hand in hand

When you’re looking at getting involved in the housing market and you’re a practicing Muslim, of course one of the building blocks of any successful endeavor are Islamic loans. Essentially, these skirt the issue of riba and help you stay Sharia compliant. However, as you might expect, there’s a lot more to the whole package and looking for a home in a good location is another necessary aspect you should consider.

This speaks to the whole question of equity. The better the location, the more attractive the home is when it comes time to sell and move. One of the first things you for sale signneed to look at here are the amenities. A good location is close to schools and shopping, as well as adequate transportation routes. Another element you might want to take into consideration are the future plans for the area.

Bigger isn’t always better. Remember, if there are plans to increase the size and scope of the neighborhood you’re living in, the taxes will go up as well as the congestion and the house prices. Buying in an area that has future plans needs to be carefully considered from all these angles.

Finally, remember Islamic mortgages won’t keep you safe from an area that’s transitioning. Neighborhoods that are in decline should be avoided.

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