Posted by: islamicfinancingnews | January 28, 2014

Here’s some renovation mistakes that will cost you money.

Islamic finance is Sharia compliant and that’s important to avoid riba. Of course there are other pratfalls for the new and even seasoned homeowner that can cost you money unnecessarily. It’s important that you keep a watchful eye out to avoid these renovation mistakes.

  1. Moving ahead without checking the references supplied. Don’t assume the contractor is legitimate just because they have a list of references. You home tool kitneed to call at least a few people on the list to ensure the work gets done properly, on time and on or under budget. Where possible, you should actually drive by and look at the contractor’s work as well.
  2. Not looking after all the details. Cabinet hardware is a great example of those little costs that add up. You might fall in love with the big picture of the new cabinets you’ve got picked out for your kitchen but you need to understand there can be up to 30 handles that cost well over $10 each.
  3. Not having a thorough contract. All the prices for materials and labor need to be included here. A few figures scrawled on a piece of paper just wont do.

Staying away from riba needs to be just one of the focuses for a new homeowner.


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