Monthly Cost of Home Ownership Calculator

What is the real monthly cost of owning a home in Canada, not just the mortgage?

Beyond the mortgage payment, owning a home typically means paying property tax, electricity, heating, water, home insurance, and (for a condo) a monthly fee. This calculator itemizes all of these for your province using 2026 estimate defaults, each one editable and sourced, so you can see the full monthly picture, not just the mortgage payment.

Why does the property tax line say it is an estimate?

Property tax rates are set by each municipality, not provincially, so this calculator defaults to a major city in your province (for example Toronto in Ontario) and labels it clearly as that city's 2026 rate. Your own municipality may have a different rate. Edit the rate field to match your city if you know it.

Does this calculator double-count heating if my home uses electric heat?

No. In Quebec, Newfoundland and Labrador, and New Brunswick, electric heating is included in the electricity bill, so when you select "Electric" as your heating fuel, this calculator does not add a separate heating line. Selecting natural gas or oil elsewhere adds its own labeled heating estimate.