Most people budget for a home using the mortgage payment alone, then get surprised by everything else. This calculator combines every genuine annual running cost, mortgage, council tax, insurance, energy, water, and a proper maintenance reserve, into one honest total.
How this calculation works
Your mortgage payment is calculated as a standard repayment mortgage using your balance, rate, and remaining term. Council Tax uses the England average for your selected band. Energy, water, and insurance are entered directly since these vary by household and region. The maintenance reserve applies your chosen percentage, commonly 1% to 1.5%, to your property's value, treating it as a genuine annual cost even in years you don't spend the full amount, since it averages out over time.
Most household budgeting exercises include the mortgage and bills but leave out maintenance entirely, treating a boiler replacement or a re-roof as an unplanned shock rather than the predictable, recurring cost it actually is. See our Home Maintenance Budgeting guide for the full reasoning behind the 1-1.5% figure.
Frequently asked questions
Why include a maintenance reserve if I haven't spent anything on repairs this year?
Because maintenance costs arrive unevenly, some years nothing, other years a boiler or a roof, and budgeting for the average annual figure smooths that out rather than treating each large bill as a surprise. Over enough years, the actual spend tends to land close to the 1-1.5% guideline.
Does this include one-off costs like Stamp Duty or moving costs?
No, this tool is specifically for ongoing annual running costs once you already own the property. See our Hidden Costs of Buying a House guide for the one-off transaction costs, and our Cost of Moving House guide for removals specifically.
My council tax doesn't match the England average shown here. Why?
Council Tax is set locally, so your actual bill can differ meaningfully from the England average shown for each band. Check your specific local authority's rate for a precise figure, and treat the figure here as a reasonable planning estimate rather than your exact bill.
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About the author
✓ Editorially reviewed — all Poqet guides are checked for factual accuracy before publication and updated when UK rates or legislation change. Editorial Policy