First-Year Homeowner Costs Calculator

Your mortgage payment is only part of owning a home. Add up the other costs of your first year (taxes, insurance, upkeep, utilities and move-in spending) so nothing surprises you. Everything runs in your browser and nothing is sent or saved.

The numbers below are examples only. Replace each one with your own: your county's tax rate, real insurance quotes and your HOA's dues.

Where to find your real numbers

• Property tax: your county assessor or treasurer website lists the rate and any homestead exemption that lowers it.
• Insurance: get quotes from several insurers or an independent agent. Your state insurance department has consumer guides; find it through the NAIC directory ↗.
• PMI: your Loan Estimate shows it. Under the Homeowners Protection Act it usually ends once you reach 22% equity; see the CFPB explainer ↗.
• Home warranty: optional. Read what is excluded and compare it with simply saving the same amount in a repair fund. The FTC's home warranty guide ↗ explains what to check.

Lower the biggest line: see if you qualify for a homestead exemption in your state, estimate savings with the homestead savings estimator, and check filing deadlines.

Educational planning tool only, not financial, tax, insurance or legal advice.

What costs come with owning a home besides the mortgage?

Property taxes, homeowners insurance, mortgage insurance if your down payment is under 20%, HOA dues, maintenance and repairs, utilities, and one-time moving and setup costs.

How much should I budget for home maintenance?

It depends on the home's age and condition. Many planners set aside about 1% of the home's value a year as a starting point and adjust after a home inspection.

Do I have to buy a home warranty?

No. A home warranty is optional. Compare its cost and exclusions with saving the same amount in your own repair fund.

Is this calculator private?

Yes. It runs in your browser, and nothing you type is sent or saved.