Home Expense Calculator

Use this calculator as an estimator. It uses the 30% rule that household expenses should not be greater than 30% of your taxable income. Enter values where indicated by a preceding asterisk *. Use the buttons to calculate item cost and to get the sum of your expenses and the income needed to maintain living in your home.

Home Expense Calculator

Items	Annual Costs
* Taxable Sq Ft of Home:
* Annual Property Taxes:
* Home Owners Insurance
* Monthly Mortgage or Rent Payment
* Annual Gas and Electric
* Annual Water/Sewer
* Annual Rubbish/Recycling
* Annual Lawn/Landscape Snow/Ice Expenses

Compare your annual taxable income to the amount needed to remain in your home. If it is less than the needed amount you may be a candidate for downsizing. If your home is paid for you can use that equity to downsize and cut expenses. Equity funds not used can then be saved for generating income.