Posted by: islamicfinancingnews | June 12, 2015

Sharia financing and understanding your new finances.

You know by now that getting sharia financing is the right move when you want to stay Sharia compliant and get some North Amercian real estate at the same time. However, these sharia mortgages also require that you understand a new set of financial obligations that come with any property that you buy.

Here’s a few of the new things that you’ll need to know about.

• There are new bills to pay when you get involved with a new home that include property taxes and utilities. You’ll need to set aside the money to ijara 1cover these extra payments as well as the cash for the initial sharia financing.
• Your new home might need repairs and maintenance as well. Even though you’ve just bought the place, you still might need to do some work like a new roof so having a few extra dollars stashed away is a good idea.

Sharia financing is all about getting involved in the real estate market but you still need to remember that there are some traditional obligations that you’ll need to look after as well.

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