Posted by: islamicfinancingnews | December 27, 2013

Advantages of home ownership

Considering taking the plunge and using Islamic finance to get into a the real estate game by buying a new home? Well, by most accounts you’re making the right choice. When you talk to most real estate experts and other people that have taken the plunge, they’ll tell you buying a home is the right choice for several reasons. Here’s just a few.

  • Equity. You might not see it at first, but when you start making mortgage payments rather than rent payments, you’re building up the equity that home ownershipyou have. That means you’re putting money away in your house so you can use it later in life to buy another house, or for other needs and wants. As opposed to handing over the money to a landlord, you’re investing in the real estate market through the house you live in.
  • Personal satisfaction. When you own a home you’ve bought with Islamic loans, you can make any changes you see fit. When you rent a property, it’s not possible to put your personal mark on it but that changes when you buy a house.

Islamic finance will allow you to get involved in the real estate market without compromising your desire to stay Sharia compliant.

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