There are more than a few things to consider when deciding if you can really afford a house. Online mortgage calculators are a good start, but there are other costs to factor in, too. For example, you’ll need money for your down payment and closing costs. Most people put anywhere from 5 to 20 percent down, and at closing, you can expect to spend about 2 to 5 percent of the home sale price.

Also, consider monthly payments and ongoing costs. In addition to the principal and interest for your mortgage, you’ll have homeowner’s insurance, property taxes, mortgage insurance, and sometimes homeowners association fees. Repairs and maintenance will vary widely, but you can expect to spend around 1 percent of the home sale price every year—and more if it’s a fixer-upper.

We break down these costs more for you in our next guide, here.

Even with all that info, it can be tough to do a side-by-side comparison of home ownership costs with your current rental costs. This handy rent-vs.-buy calculator can make it easier.

