True Cost of Ownership
Calculate your complete monthly housing cost
Your mortgage payment is just the beginning. This calculator shows the full picture including taxes, insurance, utilities, and maintenance reserves.
Why True Cost Matters
Many first-time buyers are surprised when their actual monthly costs exceed their mortgage payment by 30-50%. Lenders qualify you on PITI (Principal, Interest, Taxes, Insurance), but your real costs include utilities, maintenance, and potentially condo/HOA fees. Budget for the full picture.
Mortgage Details
Fixed Costs
Calgary typical: $3,500-$5,000 for $600K-$800K homes
New build typical: $1,500-$2,500/year
Variable Costs
Calgary average: $250-$450/month depending on size
Townhomes: $150-$350, Condos: $400-$700
Some communities: $25-$100/month for amenities
Maintenance Reserve
New builds: 0.5-1% initially, older homes: 1-2%. The "1% rule" is a common guideline.