Buying a house

[Lostbox]

I work with a Pakistani lady, she told me she has insurance for everything life, health, car , mortgage, I said isn't Haram and he reply was God knows what I'm doing.

??

insurance is haram? Shit this is getting ridiculous

Somali points at something


"Haram"

 

[Guardafui]

This is one of the reasons why I want to move a Muslim country like the Gulf or Malaysia. It’s probably much cheaper to buy a house there and the overall experience of not seeing islamophobia or having less stressful life.

 

[SOULSEARCHING]

insurance is haram? Shit this is getting ridiculous

Somali points at something


"Haram"

Not Somali, it's Islam.

 

[Medulla]

There are more expensive "halal" mortgage options available and cheaper ones on the horizon.

BTW if there's no alternative available then in Islam you could mortgage a house using conventional finance.

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Whether it's a good idea to buy?

It depends on your lifestyle but Imo even if you move around a lot it's still a worthwhile investment if you can find a good deal.

Everything is overpriced at the moment.

Probably be better off leaving your down payment invested jn the market until the housing market cools down.

No such thing as a "Halal" Mortgage , the idea of Islamic banking/Finance is still haram just cause you hide interest under some sort of additional fee still makes it haram. However everything @astorecalledkmart is true I've heard scholars say we can have one mortgage or else we will be trapped. Many people already take student loans without them further education wouldnt be possible

 

[Helios]

There are Islamic Lending companies that help you avoid Interest when buying a house.

Guidance Residential is a big one in America.

A lot of these Islamic banks start up in the West with loans from... Western banks lmao. So you're really just engaging with one layer between you and interest anyways. There is a hadith about how interest will surround everything as a sign of the end times.