QUESTION:
As Salaamu Alaikum,
- I purchased a second house however I am trying not to sell it but rather hopefully insha allah keep it for my children for the future when they are capable of occupying it. Do I have to pay zakat on it? If so, is it every year?
- If for some unknown circumstance I have to sell the house in the future. When should zakat be paid on it i.e should zakat be paid on the amount only after selling it or should zakat be paid for every year that I owned it?
ANSWER:
Wa Alaikum As Salaam,
- With respect to the second house you have purchased, it seems that you have no intention of selling it in future, and at present, you do not have it for sale. As such, Zakaat will not be paid on it since you wish to keep it for your children which is a personal need.
- If you decide to sell it in future, then the amount you receive from its sale will be joined with your other savings, and at the end of your Zakaah year, you will pay 2 ½ % on the total amount. If your Zakaah year has come to an end and the house has not yet been sold, but it is advertised as being for sale at that time, then you will be required to add the value of the house (which is being sold) with your other savings (which has reached the Nisaab) and pay 2 ½ % as Zakaah on the total amount.
And Allah Knows best
Mufti Waseem Khan
5/11/2025