How much does owning a property cost each month?

Buying is the first step; then comes what it costs to own the property month after month. Many people only budget for the mortgage payment and are later surprised by HOA fees, property tax or the bank trust fee. Here you can bring it all together in one number. Fill in only what applies to you; anything left blank counts as zero. If you don't know a figure, ask the seller or the condo management, or ask us.

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Costs paid once a year

Enter them as yearly amounts; the calculator spreads them over 12 months.

Property tax (predial) per year The yearly tax on the property, charged by the municipality. It is on the predial bill; paying early in the year usually earns a discount.

Yearly bank trust (fideicomiso) fee Only if the property is on the coast and is bought through a bank trust, as foreigners usually do. The bank charges it every year.

Home insurance per year The policy against damage such as hurricane, earthquake or fire. If you buy with a mortgage, the bank usually requires it.

Costs paid every month

Enter them as average monthly amounts. Electricity on the coast rises a lot in summer because of air conditioning, so a yearly average works best.

Maintenance or HOA fee per month What you pay the condo or homeowners' association for security, pool, gardens and common areas. For a stand-alone house, what you expect to spend on repairs.

Electricity per month Monthly average of the CFE (the electric company) bill.

Water per month Monthly average of the water bill.

Gas per month If the property uses gas. If it is all-electric, leave it blank.

Internet and TV per month The package you sign up for.

Property management per month Only if someone looks after or rents out your property for you while you are away. If they charge a percentage of the rent, enter its approximate monthly amount.

Mortgage (optional)

Mortgage payment If you buy with a mortgage. If you don't know the amount, you can estimate it with our mortgage calculator.

What it costs to own the property

Enter the costs that apply and press “Calculate the cost” to see the result.

An estimate with your own figures

The result depends on the figures you enter. It is a way to organize your budget, not a quote. Property tax, fees and utilities change every year and with use.

Before buying, ask the seller for the latest property tax, water and maintenance bills, and ask the condo management for the bylaws and current fees. That way, the number here will be closer to the real one.

Want to build the full budget?

We help you get the real property tax, fees and utility figures for the property you're interested in, and put them together with the mortgage and closing costs, free of charge and with no obligation.