Hidden Costs of Buying a House — The True Monthly Number
Lenders qualify you based on your mortgage payment, property taxes, and heat—a subset of actual ownership costs known as PITH. The real monthly cost of homeownership is substantially higher once you include home insurance, routine maintenance (lawn care, cleaning, minor repairs), and a disciplined capital expenditure reserve for major system replacements. On a $600,000 home, a realistic all-in monthly cost often runs $800–$1,500 more than the mortgage payment alone. This calculator pre-loads a $600,000 home, $2,000/year in routine maintenance, and $3,600/year in property taxes so you can see the true number immediately—then personalize every line item to your actual situation.
Expert tip: The costs most commonly omitted from homeownership budgets are CapEx reserves—the money you should be setting aside each month for roof replacement, HVAC, hot water tank, appliances, and windows. These items don't fail on a monthly billing cycle, so they feel invisible until they fail all at once. Open the Advanced CapEx panel to see a 25-year projection of when each system is due for replacement and how much you should be saving monthly to fund it without a financing emergency.
True Cost Homeownership Calculator
Full PITI breakdown · Maintenance reserve planning · True cost of ownership
Home Details
Covers filters, lightbulbs, lawn care, and minor plumbing/paint fixes.