Real estate calculator
Monthly cost of owning a home, cash needed to buy and the equity you could build.
About the real estate calculator
Monthly cost of owning a home, cash needed to buy and the equity you could build.
Part of SmartCalcy’s mortgage & real estate tools. It runs in your browser with no account, uses your own currency and units (change them at the top of the page), and gives estimates for information only, so check official guidance before you rely on a result.
How to use the real estate calculator
What it calculates and when to use it
This shows the true monthly cost of owning a home including the mortgage, property tax, insurance, upkeep and any service charge, and the equity you might build over your holding period.
How to use it, step by step
- Enter the home price, deposit percentage, rate and mortgage term.
- Add yearly property tax, insurance and maintenance as percentages of value.
- Add buying costs, expected yearly price growth and how many years you plan to own.
- Read the monthly cost, cash needed to buy and the equity at the end.
What each input means
- Deposit – Percentage of the price paid up front.
- Property tax and insurance – Yearly cost as a percentage of the home’s value.
- Maintenance – Allowance for repairs. 1% of value a year is a common guide.
- Buying costs – Fees, stamp duty or closing costs as a percentage of the price.
- Price growth – Your assumption for yearly appreciation.
How to read the results
- Monthly cost of owning – Mortgage plus tax, insurance, maintenance and charges.
- Cash needed to buy – Deposit plus buying costs.
- Equity – Projected home value minus mortgage balance after your holding period.
The formula
Mortgage payment = P × r ÷ (1 − (1 + r)^−n). Monthly tax, insurance and maintenance = value × percentage ÷ 12. Value after y years = price × (1 + growth)^y. Equity = value − remaining mortgage balance.
A worked example
A 400,000 home with 20% down at 6.5% over 30 years costs about 2,677 a month all in, including 2,161 for the mortgage and 333 for upkeep. After 10 years at 3% growth it is worth about 537,567 and the mortgage balance is about 248,036, so equity is about 289,530.
Assumptions and limits
- Property values can fall. Growth is an assumption, not a forecast.
- Costs are held at their opening level, so tax and insurance do not rise.
- Selling costs and tax on gains are excluded.
Common mistakes
- Comparing the mortgage payment alone with rent.
- Skipping maintenance, which averages around 1% of value a year.
Frequently asked questions
What is equity?
The part of the home you own outright: its value minus the mortgage.
Why include maintenance?
Owners pay for repairs and replacements that a landlord covers for tenants.
Related tools
Details
- Cash needed to buy
- £88,000.00deposit plus buying costs
- Mortgage amount
- £320,000.00
- Home value after 10 years
- £537,566.55
- Mortgage balance then
- £248,036.35
- Equity then
- £289,530.20
- Interest paid in that time
- £187,315.90