Download Home Expense Calculator Template In Excel

When looking for a home to buy, one of the main questions is “What can I afford?” at home. This is different than the question of “What size of loan do I qualify?” After reviewing your finances you find that you can afford to spend $1200 a month on housing. It is not just loan payment that is important to consider, but also property tax, insurance, maintenance, and home improvements. This Is Home Expense Calculator.

House Expense Calculator

How much home can I afford? This spreadsheet helps you answer this question by taking into account the mortgage payment (Principal + Interest), property Taxes, and Insurance (PITI) and also maintenance and home improvements into your account.

True Cost of Home Ownership Calculator

The Home Ownership Expense Calculator spreadsheet help you estimate the monthly cost of home ownership. It is one of the main considerations in deciding what home you can afford according to finances.

Home Expenses Included in this Calculator

Property Tax

Thus, Annual property taxes are often base on a percentage of the property value. The average is around 1.8%. Moreover you should call your Tax Collector’s office in city where you plan to buy the home for more information.

Homeowners Insurance

This type of insurance is meant to cover the dwelling, personal property, personal liability, etc. The annual cost of homeowners insurance is often estimate as a percentage of property value, averaging about 0.4%.

Private Mortgage Insurance (PMI)

Many lenders require PMI when down payments are less than 20 percent of purchase price.

Maintenance and Improvements

Maintenance: This includes repairs such as fixing plumbing, painting, or paying to have lawn mowed and weeds pulled. Thus, When selling your house, maintenance costs are not tax deductible.

Improvements: Although you might not spend this amount every year. Improvements such as roof replacements, remodeling, additions, etc. need to be budgeted. Money spent on some improvements may actually be tax deductible when selling the home, so keep receipts.

A rule of thumb for annual cost of maintenance and improvements is 1% of the purchase price.

Tax Adjustment

If you are itemizing deductions on your tax return, then you will be able to deduct mortgage interest and property taxes. Consult with an accountant to determine what’s your tax rate will be and whether you need to take the standard deduction instead. Many first-time home buyers find it better to take standard deduction their first year, particularly if the home is not purchased until the middle or end of the year.

The spreadsheet includes an estimate of tax adjustment, base upon multiplying the combine federal/state tax rate by monthly mortgage interest and property tax. This is only an approximation, because the amount of mortgage interest changes with each payment.

Download this Home Expense Calculator template in Excel Format

Our easy to use editable Excel templates and save your significant amount of time and effort. Here’s how to download and use one of our templates:

  1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

  2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

  3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

  4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

  5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Click Download Button To Get Home Expense Calculator Excel Template

Instruction :

All Excel templates and tools are sole property of User can only download and use the excel templates for their Personal use only. All templates provided by XLSX templates are free and no payment is asked. However, you are not allowed to distribute or share in any other website for sole purpose of generating revenue from it.

 You can also download and use our 1000 Best PowerPoint Presentation Templates and 500 Resume Samples from  Completely Free. All our templates are designed by Professionals

Download Free Editable Excel Templates | Popular Templates

Insurance Quote Template

Insurance Quote

Introduction: Streamlining Insurance Quotations An insurance quote is a vital document in the insurance industry, serving as a preliminary estimate of premiums for potential clients.

Read More »
Freelance Quotation Template

Freelance Quotation

Introduction: Mastering Freelance Quotations In the world of freelancing, creating an effective quotation is crucial for outlining the scope and cost of your services to

Read More »
Fencing Quotation

Fencing Quotation

Introduction: Navigating Fencing Service Quotations A fencing service quotation is an essential tool for businesses in the fencing industry. It provides potential clients with a

Read More »
Event Planning Quote

Event Planning Quotations

Introduction: Excelling with Event Planning Quotations An event planning quote is a critical document for event planners, detailing proposed services and costs for organizing an

Read More »
Construction Quote Template

Construction Quote

Introduction: Optimizing Construction Quotations A construction quote is a fundamental document in the construction industry, serving as a formal proposal of costs for construction services

Read More »
Cleaning Quote

Cleaning Quote

Introduction: Perfecting Cleaning Service Quotations Creating an effective cleaning service quotation is crucial in the cleaning business. It serves as a formal proposal outlining the

Read More »

Free editable professional Excel templates can be a useful tool for businesses, organizations, and individuals looking to streamline their data management and reporting processes. These templates can provide a pre-designed and pre-formatted framework for storing and organizing data, as well as for creating charts, graphs, and other visualizations to help communicate that data more effectively.

One advantage of using professional Excel templates is that they are often designed by experienced professionals who understand best practices for data management and visualization. This means that the templates are likely to be well-organized, easy to understand, and aesthetically pleasing, which can make working with them more efficient and enjoyable.

Another advantage is that these templates are often fully editable, allowing users to customize them to meet the specific needs of their organization or project. This can include adding or deleting rows and columns, changing the formatting and layout, and adding custom formulas and functions.

Some examples of professional Excel templates that may be available for free include budgeting templates for personal or business use, project management templates for tracking tasks and deadlines, and sales tracking templates for analyzing and forecasting sales data. There are also a wide variety of templates available for specific industries, such as real estate, marketing, human resource, Payroll management and among others.

Overall, free editable professional Excel templates can be a valuable resource for anyone looking to improve their data management and analysis skills. By providing a pre-designed and customizable framework for storing, organizing, and visualizing data, these templates can help users save time and make more informed decisions.