Can I Afford to Buy a Home? (Simple) Understand if you are financially ready to buy a home. If you are shifting from living at home or renting, this calculator will help you compare your current vs future budget. Instructions: Fill in the 'Yellow' fields, then review the 'Summary'. Option 1: Live at Home or Rent Monthly Income Monthly $ Pre-Tax Monthly Income After-Tax Monthly Income Savings and Investments Monthly $ Non-registered Savings and Investments Registered Savings and Investments Housing Expenses Monthly $ Rent Utilities Maintenance and Repairs Tenant Insurance Other Housing Expenses Basic Living Expenses Monthly $ Grocery Phone and Internet Transportation Other Basic Expenses Discretionary Spending Monthly $ Restaurants and Entertainment Clothing Other Discretionary Family and Child Care Monthly $ Child Care & Activities Other Family Expenses Option 2: Buy a Home Future Home - Purchase Information Expected Purchase Price Down Payment % Mortgage Insurance (if required) Down Payment $ Mortgage Amount Expected Mortgage Financing Mortgage Rate Amortization Period (yrs.) Monthly Mortgage Payment Home Purchase Transaction Costs Legal & Regulatory fees Land / Property Transfer Tax* *Check your local government guidelines. Movers Home Inspection Other Purchasing Expenses Repair and Renovation One-time Costs Major Repairs Renovations Savings required to Buy a Home* *You will need this amount saved to cover the down payment, transaction, and repair and renovation costs. Future Monthly Housing Expenses Property Taxes Home Insurance Can I Afford to Buy a Home - Budget Summary "" 1) Up-front Spend to Buy a Home: 2) Monthly Budget Impact Total Cash Flow Impact if you Buy a Home Monthly Cash Flow if you Buy a Home 3) Annual Budget Impact Total Cash Flow Impact if you Buy a Home Annual Cash Flow you Buy a Home Full details are available in the 'Detailed Results' section below. This calculator provides directional guidance. Decisions should be reviewed with your financial advisor, accountant, or real estate agent. Get your free, personalized copy! Enter your e-mail below and click the green 'Submit' button at the bottom banner. An e-mail copy will be sent and you will join our mailing list. Your 'Stay or Move' Business Case is ready! Info@BusinessCaseGuy.com | www.BusinessCaseGuy.com
"" Business Case Summary 1 "" 2 "" 3 "" 4 "" 1 One-Time Costs related to your Home Purchase One-Time Purchase Spend Upfront $ Total One-Time Transaction Costs 2 Monthly Budget Comparison (First Month) Live at Home or Rent Buy a Home 1) Gross Income Taxes and Deductions Net Income 2) Total Savings and Investments 3) Housing Costs Total Housing Costs 4) Total Basic Living Expenses 5) 6) Total Family and Child Care Net Cash Flow Monthly Budget Impact if you Purchase 3 Annual Budget Comparison (Year 1) Live at Home or Rent Purchase 1) Income Gross Income Taxes and Deductions Net Income 2) Total Savings and Investments 3) Housing Costs $0 $0 $0 $0 $0 Total Housing Costs 4) Total Basic Living Expenses 5) 6) Total Family and Child Care Net Cash Flow Annual Budget Impact if you Buy a Home Info@BusinessCaseGuy.com | Theory is Good, Numbers Are Better.