Real Estate Calculator
Total up the real monthly and upfront cost of buying a property, beyond the mortgage payment.
About the Real Estate Calculator
Enter the price, down payment, mortgage rate and term, then property tax, insurance, any HOA or service charges, an upkeep budget and buying costs. The calculator gives the true monthly cost, the cash needed upfront and the total over five years.
The mortgage payment is only part of owning a home. A common rule budgets 1% of the home's value a year for upkeep, and upfront you need the down payment plus closing costs or stamp duty.
The formula
Monthly = P&I + tax + insurance + fees + upkeep
- P&I
- mortgage principal and interest payment
Worked example
A 400,000 home, 20% down, 6.5% over 30 years
- P&I on 320,000: 2,022.62 a month
- + tax 366.67 (1.1%) + insurance 125 + upkeep 333.33 (1%)
- True monthly cost ≈ 2,848; upfront 92,000 (80,000 down + 12,000 buying costs)
Things to keep in mind
- Doesn't include the home's change in value, tax relief on mortgage interest, or what the down payment could earn elsewhere.
Questions people ask
Why include upkeep?
Roofs, boilers and appliances wear out; budgeting avoids surprises.
Does this include utilities?
No, add them separately if you want a full budget.
Is renting cheaper?
Compare this monthly cost with rent using the Rent vs Buy Calculator, which also counts home value growth.