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4BED3BATH
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Market Guide

Monthly Cost Worksheet

A worksheet workflow for modeling true monthly ownership cost before buying.

Worksheet Structure

Use these categories in a simple spreadsheet:

  • Debt service
  • Tax and insurance
  • HOA and utilities
  • Maintenance reserve
  • Household non-housing obligations

Usage Rule

Decide budget range only after this worksheet is complete under stress-case assumptions.

🧮 Monthly Ownership Cost Builder

$450K

1.40%

$175

$0

~$3,740/mo
P&I: $2,695 · Tax: $525 · Ins: $175 · HOA: $0 · Maint: $375
Assumes 10% down at 7.0% rate. Add childcare and transport for your true housing burden. This is an estimate — validate with a real Loan Estimate.

Sample Filled Worksheet ($450K Purchase, 10% Down, 7% Rate)

Line ItemSample Monthly EstimateYour Input
Principal and interest~$2,695
Property tax (estimate)~$560
Homeowners insurance~$165
PMI (if applicable)~$115
HOA (if applicable)$0 – $300
Maintenance reserve (1% / 12)~$375
Utilities (baseline)$250 – $400
Subtotal housing cost~$4,160 – $4,610
Childcare / transportationHousehold-specific
True monthly housing burdenAll items summed

Fill in your actual lender quotes and local tax/insurance figures — sample numbers are illustrative only.

Textbook Field Notes

Worksheet Lab
Instructor Note: The purpose of the worksheet is to reveal what you can actually afford, not to justify what you already want. Complete it before you fall in love with a property — not after you have already toured it three times.

Breakout Exercise: Baseline vs Stress Build

Fill the worksheet twice for your target property: once at your current rate assumption and once at a rate that is 0.75% higher. Compare both all-in monthly totals against your ceiling. The home only belongs in your budget if both builds clear your threshold. If only the baseline build passes, reduce your target price range before proceeding.

  • Store each completed worksheet with the date, the property address, and the rate assumption used — never combine data from different properties in a single worksheet.
  • Version your worksheet whenever a key assumption changes (new lender quote, updated tax estimate, insurance quote received).
  • If your maintenance reserve line is blank, fill it in now as 1% of purchase price divided by 12 months. A 4-bed 3-bath home will need that money.
Worksheet Discipline: A worksheet completed under time pressure is still better than no worksheet. Keep the template saved and pre-filled with your baseline assumptions so you can update it in under 10 minutes for each new property.

Helpful Resources

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Cross References

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