When looking to buy a home you will need to make sure that this is a financial decision that will benefit you. As a result you will want to go over the costs of buying a home and whether or not it will allow you to reach your financial goals.
One of the most effective ways to make a home buying decision is to use an Excel template. With the Excel template you will have the means to have an organized chart to see how much it will cost to purchase a home as well as the cost once you own it. Therefore you will want to use the Excel template when looking to purchase a home and decide on whether or not it is best for you.
Own vs. rent
During the process of using a template to make a decision to buy a home, you will first want to use an own vs. rent calculator. On this template you will have the ability to go over all of the costs associated with home ownership compared to renting a home or apartment.
This will give you a very good idea of what you options are and the advantages of each one. As a result you will have a better way to decide whether or not you want to buy a home or not.
Cost of ownership home buying decision
Another template you can go over on Excel is the cost of ownership. This is a template in which you can evaluate the costs associated with owning a home. On this template you will likely put down categories such as mortgage, homeowner’s insurance, property taxes and maintenance.
This template will help you easily figure out how much it will cost you to own the home on a monthly basis. As a result it will be a very valuable source of information to use when looking to decide on buying a home.
- Total Cost of Ownership
- Home Affordability Analyzer
- Mortgage Qualification Calculation Spreadsheet
- Budget Planner
- Owner Financing Estimator