<prompt> Human: I need some help. Is there a calculator out there that will help me understand the true cost of home ownership and how much house I can afford?Something that takes into account the price of house, down payment, insurance, taxes, maintenance, etc?Also what sort of increases in cost of living are often overlooked when transitioning from an apartment to a house? Im thinking things like paying for your own water and garbage for example.  <response>: You should be able to figure out your mortgage payment, which will include principal, interest, insurance, property taxes, and PMI if you dont put down 20. Dont simply rely on the default percentages that come with most online calculators - if youre at the stage where youre actually looking at houses in a particular area, go on zillow or trulia and get the actual dollar figures for property taxes so you can properly account for that portion of your mortgage payment. You may also have HOA fees, so make sure to account for that as well.When you buy the house you will have closing costs, which can vary and some of which are negotiable, but plan on a few thousand dollars for these to be paid in addition to your down payment. Prior to closing, prepare to pay a couple hundred bucks for your own home inspection, which is critical. Dont buy a house without doing a proper inspection.Youll have to move. You can rent a Uhaul truck and do it yourself, which is relatively cheap but is a pain in the ass. Or you can pay professional movers to do it for you. Thats the route Ive taken and its been worth every penny, imo.There are a lot of upfront and ongoing costs that tend to come with home ownership. For example, do you own a lawn mower, trimmer, blower, garden hoses, etc? There are a lot of things like this, both big and small, that you never needed in an apartment that youll probably need in a home, and they add up. And then every few months youve got to buy mulch, fertilizer, etc. Alternately, if you dont plan on mowing your own grass and whatnot, budget for lawn care and landscaping services. Assuming that a house youd buy is larger than the apartment youre renting, youll probably need more furnishings, lighting, etc. for your increased space. If youre moving from a one bedroom apartment to a three bedroom house, for instance, you eventually need something to go in those other two bedrooms. If your new house has a living room and a dining room and a family room, etc., whereas your old apartment just had a room where you did all that stuff, then you might need more couches, tables, chairs, lamps, etc.You will have to pay for all your own utilities, which isnt always the case when renting. Electricity, gas, water, garbage collection, etc. These vary by locale and fluctuate seasonally, but figure that all together this will be a few hundred dollars a month e.g. I budget about 325 a month for those four combined. If youve already been paying utility bills in an apartment, plan for them to go up because youll presumably be heatingcooling a larger space, and youll be watering the lawn, etc. The rule of thumb is that you should budget 1-2 of the homes value per year for maintenance. So if you buy a 200,000 house, budget 2,000 - 4,000 per year so a couple hundred bucks a month. Theres always something to pay for. 