Buying a home involves more decisions than just the mortgage payment — the rent-vs-buy question, upfront taxes, and ongoing costs all factor in. This guide organizes every housing tool on MyCalcKit by which part of the decision it supports.
Should You Buy or Rent?
- Mortgage vs. Rent — the true monthly and long-term costs of each, beyond a simple payment comparison.
- Rent or Buy in 2026 — the real math behind the decision.
- How Much House Can You Afford? — lender affordability rules explained.
Calculating the Mortgage Itself
- Mortgage Calculator — monthly payment, total interest, and amortization.
- 15-Year vs. 30-Year Mortgage — the interest savings versus the higher monthly payment, with a worked example.
- UK Mortgage Rates in 2026 — current trends and what they mean for monthly payments.
Upfront and Ongoing Costs
- How Much Deposit Do You Need? — typical requirements by LTV band and first-time buyer schemes.
- What is Stamp Duty? — how it's calculated and who pays more.
- UK Stamp Duty Calculator and Australia Stamp Duty Calculator.
- Council Tax Calculator and UK Council Tax Bands Explained — the ongoing annual cost after purchase.
Common Mistakes
- Forgetting stamp duty and other closing costs when budgeting. These are due in cash at completion, separate from your deposit and mortgage.
- Using gross salary for affordability estimates. Lenders and realistic budgeting should use net (take-home) income, not the headline salary figure.
- Not comparing renting against the fully-loaded cost of owning. Maintenance, insurance, and property tax add 20-40% on top of the mortgage payment alone.
Frequently Asked Questions
Where should I start if I'm deciding whether to buy?
Start with Mortgage vs. Rent for the full cost comparison, then How Much House Can You Afford to set a realistic budget before shopping.
What upfront costs am I likely to forget?
Stamp duty (or land transfer tax), which is due separately from your deposit — see What is Stamp Duty for a full breakdown by buyer type.