True Cost of Homeownership Calculator

Banks show you the mortgage payment. This calculator shows you everything — the real all-in monthly cost including every expense most buyers forget to budget for.

The hidden costs most buyers underestimate

Maintenance: The 1% rule says budget 1% of your home’s value annually for maintenance — that’s $4,500/year on a $450,000 home. Older homes, pools, and large lots can push this to 2-3%. This includes repairs, appliances, HVAC servicing, and roof maintenance.

Property taxes: These vary enormously by location — from 0.3% in Hawaii to over 2.4% in New Jersey. A $450,000 home in New Jersey costs $10,800/year in property taxes alone ($900/month). Always check your exact county rate before buying.

Utilities jump when you own: Homeowners typically pay $200-$400/month more in utilities than renters because they’re responsible for a larger space, older systems, and yard maintenance.