House Affordability Calculator Template

If I am allowed to talk about myself, I would like to share my biggest wish in life which is, to build a house of my own. Nobody wants to or likes to live in a rented house but its not possible for most of us to have our own house before you hit forty. What if you are saving money for 20 years to buy a house for you and your family and when you buy a house, you find out that you can’t afford its expenses like bills, maintenance and repair? This is why it’s very important that before you decide or actually purchase a house, you make some assumptions about the upcoming years. Also when you buy a house, you don’t want to sell it right away but believe me there will be a time after a few years when you will be able to afford a much better place and you will sell this house. So the house you buy should have a good resale value. All these figures and facts come when you check the affordability of your house or the one you are about to buy. And the process which helps one in this situation is called a house affordability calculator.

A house costs a lot and most of us work our asses off to save the money for our dream home so it is not a good idea to make this decision without thinking about every aspect and a fact that is it affordable or not. It’s not about the money you pay to buy the house but the expenses that come after the house is yours. You will have to pay the bills, take good care of the house and pay for the maintenance and repair stuff and the taxes that the government implements on your property. This affordability calculator helps you to estimate all these expenses to see if you can actually pay for them or not. This calculator gives you an amount of tax that you will be paying to government when you own this house. If you think you can buy the house but can’t afford those expenses, we recommend that you buy a smaller place or change the neighborhood and check a few blocks outside the city where real estate prices are comparatively low and taxes are less.

This calculator comes in handy when you are not a rich person and you have to make sure before you spend a single buck. Buying a house takes the money you saved for twenty or thirty years and when you actually start living in the house, you find out that you can’t afford the electricity bill of such a big house or the government has implemented a huge tax on your house. This calculator gives you all that figures before you buy the house. You have to input some figure like the price of house, real estate value in that area, the tax ration of that place and the previous electricity and gas bills and within a few seconds this calculator shows you figures about your upcoming expenses in the future after you buy the house.

Here is preview of this House Affordability Calculator Template,

Uses of a house affordability calculator in our daily lives:

  • The main and most important use of this calculator is when an individual wants to buy a house and he can’t figure out the upcoming expenses of the future that comes with the house so he uses this calculator.
  • With the help of this calculator, you find a figure about the annual or monthly tax you will be paying.
  • If you have got a mortgage or house loan, you can make sure if you will be able to make those installments after you buy this house or the house itself needs a lot of money to take care and maintain.
  • Real estate professionals use this calculator to satisfy a client who can’t do this process by his own.
  • This calculator enables you to find the resale value of the house you are buying because no matter what you say, think or decide, there will be a time in future when you will be desperate to sell this house. So it’s better if you prepare yourself for that time and situation and don’t get your hopes too high about the resale value of the house.

Here is download link of this House Affordability Calculator Template,