Total Cost of Ownership Calculator
See a monthly cost of owning that includes the mortgage payment, a maintenance allowance, and utilities.
Use it when the mortgage payment is only part of the monthly cost to own.
How much should I budget for home maintenance?
Compare scenarios
How we calculated this
The mortgage portion matches the mortgage calculator. Maintenance is a percent of the home price spread over 12 months. Utilities are the monthly amount you enter. Together they are a planning budget, not a quote.
What does this mean?
Owning at these numbers is about $3,582.94 a month, including the mortgage payment, a maintenance allowance, and utilities.
Your assumptions
Edit assumptions- Home price
- $450,000
- Down payment
- $90,000
- Interest rate
- 6.50%
- Loan term
- 30 years
- Property tax
- 1.10%
- Home insurance
- $1,800 / year
- PMI rate
- Not applied
- HOA
- $0.00 / month
- Maintenance
- 1.00% of home price / year
- Utilities
- $370.00 / month
This calculator provides an estimate for informational purposes. Actual mortgage payments, taxes, insurance, PMI, fees, and lender terms may vary.
Embed
Paste this iframe to show the calculator on another page. Taller results scroll inside the frame.
<iframe src="https://myhousingiq.com/embed/total-cost-of-ownership-calculator" title="Total Cost of Ownership Calculator" width="100%" height="900" style="border:0;max-width:1080px;"></iframe>
How the estimate is calculated
The housing payment matches the mortgage calculator: principal and interest, tax, insurance, PMI, and HOA.
Maintenance is a percent of the price spread over the year. Utilities are the monthly amount you enter.
Monthly cost to own
Monthly cost = mortgage payment + (home price × maintenance rate ÷ 12) + utilities.
Example
- Start from the same price and loan you would use in the mortgage calculator.
- Leave maintenance at 1% or match the maintenance calculator.
- Paste a utilities total from the utility calculator.
With the numbers filled in on this page, the estimate is $3,582.94 per month.
What changes the result
Maintenance percent
One percent is a common allowance, not a bill you will receive.
Utilities
They vary by season and by how the home is built.
What is left out
Furnishings, commuting, and income taxes are not in this total.
Questions
How is this different from the mortgage calculator?
The mortgage calculator stops at the housing payment. This page adds maintenance and utilities.
Does extra principal count?
Yes, if you enter an extra monthly payment. It is cash leaving the account.
Is the maintenance line required?
It is part of the estimate. Set the rate to 0% if you want it excluded.