Your house is usually your biggest asset and biggest expense.

Moving is expensive, especially if you’re selling a house.  Even if you’re not selling a house, moving your stuff and fixing up the new place isn’t free.

And moving will also change your monthly expenses:

• Your monthly mortgage or rent payment.
• How much you pay for utilities, taxes, insurance, and upkeep.
• Your income from savings – if you use or add to your savings when you move.

Please fill all required fields

header-small	Enter your figures in the white boxes to change the figures we use.
header-column	.	You Currently	ownrent	You Will	buyrent
header-column			TODAY		TOMORROW
input results-small	Home Value
input results-small	Mortgage
input results-small	Monthly Payment
input results-small	After Tax (estimated)
input results-small	Tomorrow's Rent, if You Will Rent
gap
header-orange	Quick Estimate:
input results-small	Value of Home
input results-small	Mortgage Owed
input results-small	Moving Costs
input results-small	Change in Savings After Moving Costs
input results-small	Change in Monthly Expenses
gap
header-small	How Your Monthly Expenses Could Change
billboard-big
billboard-small	Monthly PAYMENT	Operating EXPENSES	INCOME  from Savings	NET CHANGE
header-marker	Advanced: Moving Costs
input results-small	Sales Commission
input results-small	Fix-up House to Sell
input results-small	Moving Your Stuff
input results-small	Fix up &  Furnish New House
total	Total
text-oversize
header-marker	Advanced: Expenses
header-orange	1. Change in Monthly Payment
input results-small	New Mortgage, if any
input results-small	New Mortgage Closing Costs
header-column	Mortgage Terms		TODAY		TOMORROW
input results-small	Interest Rate
input results-small	Mortgage Years		152030		152030
input results-small	Years Left
header-column	Change in Monthly Payment
input results-small	Monthly Payment
input results-small	Marginal Tax Rate		0%10%15%25%28%33%35%39.6%
input results-small	Value of Mortgage Interest Tax Deduction
input results-small	Payment After Tax
total	Change in Monthly Payment After Tax
header-small	How Your Monthly Expenses Could Change
billboard-big
billboard-small	Monthly PAYMENT	Operating EXPENSES	INCOME  from Savings	NET CHANGE
header-orange	2. Change in Monthly Operating Expenses
header-column			TODAY		TOMORROW
input results-small	Property Tax*
input results-small	Utilities & Upkeep
input results-small	Insurance/ Condo fee
input results-small	Commuting & Other
input-total	Total
text
total	Change in Monthly Operating Expenses
header-small
billboard-big
billboard-small				NET CHANGE
header-orange	3. Change in Income from Savings
input-total	After You Move, Your Savings Will Be
input results-small	How You Use These Savings		For Near-Term GoalFor CollegeFor RetirementRetired, to Draw Out an IncomeRetired, to Delay Social Security
input results-small
input-total	Change in MONTHLY Income from Savings
gap
header-small
billboard-big
billboard-small				NET CHANGE

In Moving Expenses, we estimate the cost of:

• Selling “fix-up” costs estimated at 1% of current house value.
• Moving your stuff estimated at 2% of current house value, or $2,000 if you rent.
• Refurbishing, new furnishings, etc., at 2% of current house value, or $2,000 if you rent.

In Monthly Housing Expenses, we estimate the cost of:

• Real estate taxes at 1.25% of house value a year.
• Utilities and upkeep at 1.5% of house value a year, or $180 a month if you rent.
• Insurance/condo fees at 0.5% of house value a year, or $20 a month if you rent.
• Also note that these expenses, unlike mortgage payments, rise with inflation.

In Income From Savings, we estimate:

• The return on savings for a near-term goal at a conservative 1% above inflation.
• The return on savings for college, invested in a balanced mutual fund, at 3.5% above inflation and fees.
• The return on retirement savings, invested in a Target Date Fund for young and middle-age workers with a large allocation to stocks, at 5% above inflation and fees.
• The income drawn from savings in retirement at 4% of savings, commonly seen as a “safe” amount.
• The increase in income from delaying Social Security at 6.5%, the average increase from using savings to provide the higher income you’ll  get when you do claim. (Note that you can only increase your income from Social Security by delaying up to age 70.)

DISCLAIMER: The information provided on the SquaredAway website is for educational purposes only.  It is not intended to provide personal financial advice.