Build a budget that gets you into a home
This free calculator from Sands Real Estate & Property Management in Bonita Springs shows Southwest Florida renters and buyers where their money goes each month and how long it will take to save for a home.
Takes about 5 minutes. Nothing is shared unless you choose to send it.
Sands Real Estate & Property Management
Monthly budget summary · sandsrepm.com/budget-calculator
Monthly take-home (estimated from your pay)
$0
- Housing + other needs $0 (0%)
- Wants $0 (0%)
- Savings $0 (0%)
- Unassigned $0 (0%)
Your home
Enter a rent or a payment and see what it does to your budget. Add up to three homes to compare them side by side; the one you choose is the one used everywhere below.
Estimate a mortgage payment
Example numbers; change them to match a real home. Florida homeowners insurance is often a large part of the payment, and some homes also need flood coverage.
Income
Hourly pay is turned into a take-home estimate using 2026 federal tax figures. Florida has no state income tax.
Bills & needs
Everything you have to pay except housing; that comes from the home you chose above.
Fun & wants
The extras that make life enjoyable.
Savings
Lines named “Emergency fund” and “Down payment fund” are used for the timelines. With neither, all savings count toward both.
Your home goal
How much to have ready when you buy. Low-down-payment loan programs exist; a lender can confirm which ones apply to you.
0% saved
Want help hitting your number?
A Sands agent will walk through your plan with you, connect you with a lender if you want one, and send homes that fit your budget when you're ready. There's no cost and no pressure.
What this home savings calculator does
The calculator estimates your monthly take-home pay and builds a simple budget split into needs, wants and savings. You can compare up to three homes or rentals side by side.
It then shows how long it will take to save for a down payment and closing costs, and how much to save each month to buy by a date you choose.
Who it's for
It's built for people who are renting now and want to buy, and for first-time buyers who aren't sure where to start. It works for households with one income or several.
It also helps families relocating to Southwest Florida who want to know what fits before they move, and anyone curious whether a less expensive rental could get them to homeownership sooner.
How to use your results
Pick a timeline, enter your income (hourly or salary), add your bills and spending, then compare the homes you're considering. Next, look at "Your target."
The gap between what you need to save and what you're saving now is your plan. Small changes, like a less expensive rental or trimming a few wants, can move your date by months.
Budgeting for a home in Southwest Florida
Florida has no state income tax, which is one less line to plan for. Beyond rent or a mortgage payment, local buyers should plan for homeowners insurance, flood insurance where the property's flood zone requires it, and property taxes.
Many communities also have HOA or condo fees, and every home needs ongoing maintenance. Upfront costs include the down payment and closing costs. Some loan programs allow a low or no down payment, and a lender can confirm what you qualify for.
Why we built it
Most people were never taught how to budget, and knowing your real number is the first step to buying a home. Sands Real Estate & Property Management helps renters and buyers across Southwest Florida, from Longboat Key to Marco Island, and created this tool so anyone can start a plan for free.
An agent can help you turn the numbers into a plan and connect you with a lender if you want one. There's no cost and no obligation.
Reviewed by Matt Hullinger, Managing Broker, Sands Real Estate & Property Management · Updated
Want more detail on a payment? You can estimate a mortgage payment in more detail, browse homes for sale, read our buyer resources, or contact us. We work throughout Southwest Florida, including Bonita Springs, Naples, and Fort Myers.
Home savings calculator FAQ
How much do I need to save to buy a house?
You'll generally need a down payment plus closing costs, and it's wise to keep an emergency fund as well. The amounts depend on the price and the loan type, and some programs allow a very low or no down payment. Use the home goal section of the calculator to see your own number.
How long will it take me to save for a home?
It depends on your goal and how much you save each month. The calculator shows how many months it will take at your current pace, and what you'd need to save each month to buy by the date you choose.
Is the 24% tax estimate accurate?
It's a conservative estimate for federal income tax, Social Security and Medicare combined, and most households pay less. For the most accurate result, enter your paystub take-home pay. You can also change the rate.
Does Florida have a state income tax?
No, Florida doesn't have a state income tax, which is why the calculator doesn't ask for one.
What is the 50/30/20 rule?
It's a guideline that suggests about half of your take-home pay goes to needs (including housing), 30% to wants and 20% to savings. The calculator shows how your budget compares. It's a guide, not a requirement.
What costs besides the mortgage should I plan for in Florida?
Plan for homeowners insurance, flood insurance where it's required, HOA or condo fees, property taxes, maintenance and utilities. A lender or insurance agent can help you estimate the ones that apply to a specific home.
How big should my emergency fund be before I buy?
A common guideline is three to six months of essential expenses. The calculator lets you set your own emergency fund goal.
Should I keep renting while I save?
Sometimes a less expensive rental is the fastest way to save. Compare homes side by side in the calculator to see how much sooner you'd reach your goal.
I'm moving to Southwest Florida. Can I use this before I move?
Yes. Enter the income you expect and the rents or prices you're considering. A Sands agent can help you understand local costs.
Is my information saved or shared?
Your numbers stay in your browser unless you choose to email yourself the plan. If you do, they're saved with your contact information so an agent can help. We never sell your information. See our privacy policy for details.
Does it cost anything to get help from an agent?
No. There's no cost or obligation to talk through your plan with a Sands agent.
Ready to find a place that fits this budget?
Tax figures are 2026 estimates for planning purposes, not tax, lending or financial advice. Your numbers are saved only in this browser unless you choose to send them to us.