Making a resolution is a great way to start a year. And it can be even more exciting when it is about buying a new home, especially when it is the first. It boosts your spirit and gets you geared for an abode of joy that will last for years to come. But as most of us know, all the inspiration and excitement around a resolution could run out faster than the first month, if it is pursued without a plan. To help you stick to your New Year resolution, here are a few ideas.
Workout the finances
Map out your finances to present yourself with a clear overview of where you stand at the beginning of the year. If you plan to purchase a home, make use of an online home finance calculator to estimate what you need to achieve your goal. Speak with an Islamic home finance provider to gain a better understanding of how it is possible to finance your home the Shariah-compliant way.
Choose the right type of home
The options are plenty. You will have to make the decision about what type of home you wish to purchase by taking into consideration your homeowner expectations. Consider space, maintenance, repairs and surroundings to determine the type of property you will buy. Use search platforms, such as GuidanceRealty.com to search various types of properties – such as single-family homes, townhouses, condominiums and more.
Take help from an agent
Working with a licensed real estate agent will make a crucial difference in your home buying journey. Real estate agents are experts in the industry and come in very handy with negotiating prices, understanding complex paperwork, reviewing documents and providing guidance through the inspection process.
Make a timeline
Most importantly, doing all of the above in an organized manner will make the entire process as smooth as it can get. A timeline based task list, which can be reviewed on a daily basis will keep you motivated throughout the process. Do this with intent and you will feel like you’re a step closer to owning your home each day
Making your resolution to purchase a home come true can be a complex task, but very rewarding. What to keep in mind is that it is a process, and processes require planning. You will be successful if you keep your resolution in mind beyond the month of January, and of course, if you do the necessary preparation to make it come true.
Guidance Residential is a company that helps Muslim-Americans realize their dreams of owning a home by providing a Sharia compliant, Declining Balance Co-ownership Program. With a commitment to provide the best quality and by adhering to Sharia principles, we have financed $4.6 billion and have become the #1 U.S. Islamic Home Financing Provider.
To learn more about how our Declining Balance Co-ownership Program differs from a conventional mortgage loan, click here.