Replace allowances with property-specific insurance, utility, condo, and maintenance information.
Ownership cost calculator
Monthly home ownership cost calculator
Estimate mortgage, tax, heating, condo fees, insurance and a maintenance reserve together.
Start calculating
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.
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.
| 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 total | 1% / $3,257 |
| Condo: monthly fees / heating / insurance | $500 / $0 / $80 |
| Condo: annual reserve / monthly total | 0.25% / $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 conventionsFormula and assumptions
Calculations are reproducible and use the published rules linked below. Service-cost amounts are planning allowances, not quotes.
Read the calculation methodologyFAQ
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.