Rooofread tools · The Real Number
What will this home actually cost your life?
Go beyond the mortgage. See what remains after housing, normal life and the things you’re saving for.
Your next step, on your own terms
Home Hunt Reality Sheet
Compare the real monthly cost, commute and everyday compromises of homes on your shortlist.
Take it with you →Free Excel workbook. Includes a Start here guide. Enter your own numbers in the downloaded file.
What The Real Number calculates
Your mortgage payment isn’t your housing budget. The Real Number combines the ongoing costs of owning a home with the rest of your household spending and savings goals to show what’s left each month.
What it includes
Mortgage payments, property tax, condo or strata fees, home insurance, utilities and a maintenance allowance sit alongside transportation, debt payments, everyday spending and planned savings. Closing costs and accessible cash are tracked separately to show the emergency buffer left after buying. Add more expenses in Realistic or Deep dive mode; costs you leave at zero are excluded.
How to read your result
Monthly breathing room is what remains after the expenses and savings you entered. A positive number only covers costs included in your model. Check cash after closing too: a comfortable monthly budget can still leave a funding gap on purchase day. Emergency runway expresses remaining cash as months of modelled essential spending, not a guarantee of how long it will last.
How the calculation works
Take-home income minus housing, household spending and planned savings gives monthly breathing room. The mortgage calculation uses your rate, down payment and amortization, with semi-annual compounding by default. Closing costs reduce accessible cash once. A scenario can change income, recurring costs or one-time spending; temporary income losses are averaged over a year. Taxes outside the supported automatic rules require verified entered amounts.
Read the full methodology, coverage and dated sources →
Illustrative scenario · Canadian dollars
Worked example: what is left after buying a $500,000 condo?
Alex is considering a condo and wants to know whether the monthly budget leaves room for ordinary life. This fictional household takes home $7,000 a month and has $150,000 in accessible cash.
Buying inputs: $500,000 purchase price; $100,000 down (20%); $400,000 mortgage at an assumed 4.5%, paid monthly over 25 years with semi-annual compounding; five-year term. Monthly ownership costs beyond the mortgage: property tax $250, condo fees $400, insurance $100, utilities $150 and maintenance $200. Entered purchase costs total $10,000: $7,000 manual purchase tax, $2,000 legal, $500 inspection and $500 moving. This is an illustrative cost allowance, not a jurisdiction-specific tax quote. Other purchase costs are set to zero.
Everyday inputs: $1,800 a month in essential spending, $500 in flexible spending and $500 in planned savings. No other costs, debts or income shocks are entered.
- Mortgage payment
- $2,214/month
- All-in housing cost
- $3,314/month
- Money left after life costs and savings
- $886/month
- Cash left after down payment and closing
- $40,000
The mortgage is only part of the decision: the other housing costs add $1,100 a month. The $886 left over is a margin for costs Alex has not included. The $40,000 reserve covers about 7.8 months of the modelled housing and essential expenses, not all possible spending.
Limits: no mortgage qualification, rate offer, tax exemption or future repair is assumed. A higher rate, special assessment or missing expense changes the answer. Amounts are rounded to the nearest dollar.
Sources and date: Rooofread hypothetical scenario, calculated September 26, 2026. Background: FCAC, Buying a home and FCAC, Mortgage terms and amortization, consulted September 26, 2026. See our calculation methodology and rule sources. These sources explain the concepts; the sample prices, rates and expenses in this example are assumptions, not market quotes.
Questions this tool can help answer
- What would be left after housing and our normal bills?
- Could we manage on one income?
- How much cash would remain after closing and an unexpected repair?