Ownership cost calculator

Monthly home ownership cost calculator

Estimate mortgage, tax, heating, condo fees, insurance and a maintenance reserve together.

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Turn a mortgage payment into a household budget.
YOUR LOCATION

Where is the property?

Choose a province or territory to use the right regional taxes and fees.

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NEXT STEPS

What to do next

Build on this result and confirm the details before you commit.

Understand the result

The costs listings do not put in one place

  • A mortgage payment is only one line in an ownership budget.
  • The result separates recurring obligations from a suggested maintenance reserve.
  • Use actual property tax, utility, condo, and insurance quotes when you have them.

Illustrative worked example: complete assumptions

Synthetic case, not a market average or quote. Amounts rounded to dollars; nominal rate compounded semi-annually with monthly payments.

Reference inputs and results
Price / down payment$500,000 / $100,000
Mortgage / rate / amortization$400,000 / 4.49% / 25 years
Monthly payment / annual property tax$2,212 / $4,000
Detached: monthly heating / insurance$150 / $145
Detached: annual reserve / monthly total1% / $3,257
Condo: monthly fees / heating / insurance$500 / $0 / $80
Condo: annual reserve / monthly total0.25% / $3,229

The reserve is savings for repairs, rather than a monthly bill. Condo heating is assumed included in fees: check your building. Other utilities, moving and special assessments are excluded. Assumed annual income $145,000 and monthly debts $450 are used for qualification ratios and do not affect these totals.

Official source for rules and conventions

Formula and assumptions

Calculations are reproducible and use the published rules linked below. Service-cost amounts are planning allowances, not quotes.

Read the calculation methodology
FAQ

Common questions

What costs should a homeowner include each month?

Common costs include mortgage, property tax, insurance, heating, utilities, condo fees when applicable, and a reserve for maintenance and replacements.

How much should I reserve for maintenance?

There is no universal amount. The tool uses an adjustable planning assumption; age, condition, property type, and near-term repairs matter more than a generic rule.

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