This new page/feature is still being tested, so please be cautious when evaluating the results.
Calculate the cost of buying a house or flat, and how much you will pay during your stay in that property.
Buying tends to be better the longer you stay because the upfront fees are spread out over many years.
What Are Your Mortgage Details?
£1,144 Per Month
Capital & Interest Payment Breakdown
Property Price Growth
Do you predict your property to increase in price after your stay?
Worth £315,303 after 5 years
Will you be investing additional money after paying your mortgage every month?
Your mortgage is £1,144.
Stamp duty is a government tax paid on homes costing £250,000 or more.
First-time-buyers will pay no Stamp Duty on the for properties worth up to £425,000. You pay a different tax if your property or land is in Scotland or Wales, however this calculator does not support that option, so just select "Do not include".
For more details, use our stamp duty calculator.
Buying and Selling Costs
There are a variety costs to pay when you are buying/selling your property. Costs that do not apply if you were renting e.g. surveyor’s and legal fee
Maintenance and Service Charge
Homeowners are responsible for all the costs of keeping the house maintained and repairs, for example replacing the boiler or getting a new fridge if it breaks. This is in addition to any renovation work like remodelling the bathroom or kitchen.
You may also have to pay service charge and ground rent if you are purchasing a leasehold property.
£3,000 spent per year
£0 spent per year
After 5 years, the net gain/loss from buying and selling a property would be -£30,581.
You bought your property for £300,000 and sold it for £315,303 after 5 years.
During that time, you paid £68,664 in mortgage payments. £24,884 was interest, and you paid off £43,781 from the £270,000 mortgage principle, meaning you still owed the bank £226,219 at the time of selling.
Therefore, from the £315,303 sale money, £226,219 goes to the bank for your mortgage.
So, you actually received £89,084 from the sale.
Now, let’s go through the expenses:
- £68,664 in mortgage payments.
- £15,000 for maintenance and repairs over 5 years.
- £6,000 in buying and selling costs.
That leaves you with -£581.
But wait, there's also the £30,000 deposit, if you take that into account too, then overall you’ve lost -£30,581.
Or do you have a suggestion? Feel free to send us a message:
Please use the contact page if you would like a reply to your message.
See how the buying total was calculated.
£300,000 x 10% = £30,000
Property price x Deposit (%)
- Mortgage paid:
(£1,144 x 12 = £13,733) x 5 = £68,664
5 years of mortgage payments. More details available with our mortgage calculator
- Capital from sale:
(£300,000 x 1% 5) - £226,219 = £89,084
(Property price x Growth rate % Years) - Outstanding mortgage
- Investment growth:
£0 per month with 5% growth rate after 5 years = £0
Monthly investment with X Growth rate after X Years.
More details available with our compound interest calculator
£300,000 x 1% x 5 = £15,000
Property price x Maintenance (%) x Years
- Service Charge
£300,000 x 0% x 5 = £0
Property price x Service Charge (%) x Years
- Stamp duty
From To Rate Cost £0 £425,000 0% £0
Calculated using our stamp duty calculator
- Buying/selling costs
(£300,000 x 1%) + (£300,000 x 1%) = £6,000
Property price x Cost of buying (%) + Property price x Cost of selling (%)
- Net gain/loss
£89,084 - £30,000 - £68,664 - £15,000 - £0 - £0 - £6,000
Capital from sale - Deposit - Mortgage paid - Maintenance/repairs - Service Charge - Stamp duty - Buying/selling costs
= Net gain/loss