Vacation Home Calculator
Complete the information below to determine the monthly cost of owning a vacation home. Uncertain about your monthly vacation home mortgage amount? We’ve got you covered. Simply complete the inputs in our Vacation Home Mortgage Calculator to better understand your monthly mortgage payment based on your expected down payment and other mortgage terms. Be sure to also check out our Can I Afford a Vacation Home Calculator which is a useful affordability tool.
Complete the following:
Input Guidelines for Vacation Home Calculator
If you are having trouble estimating certain inputs, use the following guidelines and general rules of thumb:
- Home insurance: the US average is about $2,490 a year for $400,000 of dwelling coverage, as of May 2026. Canadians typically pay about C$2,000 to C$3,000 a year. Rates vary widely by location, so get a quote for the property.
- Property tax: the US national effective rate was 0.9% of home value in 2025. In Canada, each municipality sets its own rate, so check the local rate for the property.
- Repairs and maintenance: we have set a default value of 1.5 times the monthly mortgage payment, closely mirroring the general rule of thumb of 1.5 times the monthly rental amount.
- Electricity and heating: these elements can vary significantly based on location and type of property. Check with your realtor or local utility providers for more information.
- Strata, HOA, resort fees etc.: check real estate listings of comparable properties for further insight into these costs.
Cost of Owning a Vacation Home
In order to have a complete picture of ownership costs, read our article here exploring the true cost of owning a vacation home, which covers the following costs:
One-time Costs
- Down payment
- Property transfer taxes
- Conveyancing fees
- Renovations
- Furnishing the home
Reoccurring Costs
- Mortgage payment
- Property taxes
- Insurance
- Utilities
- Cable and Internet
- Management fees
- Maintenance and repairs
- Ongoing accounting and legal fees
Other Costs
- Strata fees, HOA fees and resort fees
- Vacancy, general excise and other taxes
- Indirect (depreciation, opportunity cost)
Written and developed by Peter Davis. Peter owned and operated multiple vacation rental properties in Whistler for almost a decade. He writes about buying, financing and owning second homes in the US and Canada.