Posted by: islamicfinancingnews | June 20, 2014

Renting or Buying: Here’s A Comparison

Buying a house or other type of property with Islamic home loans isn’t the only option you have when you’re looking for a place to live and want to stay Sharia compliant. Although islamic mortgage loans are a great way to get a piece of property in the North American real estate market, recent research shows 61% of Americans feel renting will make them just as happy as buying a property.

Renting is become more of an option for busy people who don’t have time to do the proper maintenance a home requires and aren’t necessarily interested in putting down roots in a specific community. Ofhome ownership course, when you buy a house, you are able to personalize it and customize the architectural design to your personal tastes. However, if you prefer to spend your weekends in a park rather than a home improvement store, renting might be the better option.

Finally, it’s important to consider the fact that renting allows you more flexibility to move when you want to and, while Islamic mortgage loans will give you some equity in the bank over time, they do require you to put in a number of years to get to that finish line.

 

 

 

 

 

 

 

 

 


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