Translation: It is been narrated on the authority of Hadhrat Abdullah Bin Umar (May Allah be well pleased with them), he says: One person came to the Holy Prophet (Sallallahu alaihi wa sallam) and said: O Prophet of Allah (Sallallahu alaihi wa sallam)! What obligates a Haj? The Holy Prophet (Sallallahu alaihi wa sallam) said: The expenses and the conveyance. (Jame’ Tirmidhi, Hadith No. 818)
The jurists have clarified that this means if a person has such an amount of money over and above his basic needs that he can bear the expenses of going to the Ka’aba and staying there and can arrange for the needs of the family for this entire period, then he is deemed to be a man wealthy enough that Haj is obligatory on him.
For Zakaat, among other rules, it is necessary that one year should have passed on the wealth and that the wealth should be of an increasing nature. For Haj, it is not necessary that one year should pass on the wealth and that the wealth should be of an increasing nature. Neither that the wealth should reach a prescribed limit of wealth, simply if a person has wealth enough to bear the traveling expenses and enough for the needs of the family for when he is gone for Haj.
If someone has an extra house apart from the actual residence and by selling that, one gets money enough to bear the traveling expenses and fulfill the needs of the family until he comes back, then Haj is obligatory on that person.
As given in Fatawa A’alamgiri, Kitab Ul Manasik.
Delaying Haj even after it has becoming obligatory invites the wrath of Allah
Some people delay Haj without any valid reason even after it has become obligatory for them to perform it. If their time comes before they do it, they will be counted as among those who missed an obligation and they will remain bereft of a great distinction. There is a Hadith in Jame’ Tirmidhi:
Translation: It is narrated on the authority of Hadhrat Ali (May Allah be well pleased with him), he says: The Holy Prophet (Sallallahu alaihi wa sallam) said: The person who has the money and the conveyance which can take him to the house of Allah and in spite of that, he does not go for Haj, then it is of no concern whether that man dies as a Jew or a Christian. Allah has said about this in His book: the Pilgrimage to this House is prescribed for the people for the sake of Allah whoever may afford its journey. Surah Al Imran (3:97)
(Jame’ Tirmidhi, Hadith No. 817)