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Shopping for a house or apartment to own is a big deal — for most of us, the biggest of a lifetime. So we try to be careful and wise and to find the best property we can and the best financing we can arrange*. But nobody makes it easy to figure out what this big deal is really going to cost when you've taken the tax deductions into account. Or whether you're really better off buying than renting. Well, we think we've fixed that.

We've seen online mortgage calculators. To us they look pretty lame and quite incomplete. Of course a wiz with a financial calculator like an HP 12C can do this kind of math in her sleep — but even she winds up with one mysterious number displayed above a field of buttons. We think we have a better way. Our calculator is an intelligent form, where the all numbers you put in and all the numbers you get out remain visible and labeled. Everything's there, and you don't have to remember anything.

We have two major features that appear to be unique:
  1. We can do the calculations necessary for condominiums and co-op apartments, not just houses, and
  2. We give you a pretty good estimate of what your true cost of housing will be, after taxes. The better you can pin down the costs, rates and your tax bracket, the better that estimate will be.
Even our calculator has limitations, however. We don't (as of now) try to handle :
  • Adjustable-rate or interest-only mortgages
  • Balloon payments
  • Canadian mortgages
  • Biweekly payments (or any schedule but monthly)
  • Allowance for 'points' and other closing costs (though you can include them in the price when they're financeable or the down payment when they're not)
Finally, we have to tell you this:

Terms of Use

This calculator is to be used for illustrative purposes only, and this fact must be explained to any third party to whom you show the calculator's output. It is not intended to provide legal, accounting, tax or other professional advice, and it is no substitute for timely professional advice. Ideonautics Corporation cannot and will not assume any liability for the use or misuse of this calculator. This calculator is provided as is and without warranty of any kind, express or implied. If you do not accept these terms of use, you must not use this calculator. Your use of the calculator acknowledges your acceptance of these terms.

Now that you have all that under your belt, let's go on to the calculator.

*Even if you can pay cash, you may still want to estimate your after-tax cost.

We do not keep any of the information you put in. See Ideonautics Corporation's privacy policy.

Ideonautics Corporation
11748 Route 22
Austerlitz, NY 12017

 EstiCost is Ideonautics Corporation's trademark for its after-tax housing-cost calculator.

©2006 by Ideonautics Corporation. All rights reserved.