All calculators are downloadable Excel spreadsheets that allow you to save and amend your own personal data.With this spreadsheet, enter your personal data in the purple coloured cells.

Monthly savings needed for a house deposit calculator

This calculator will let you know approximately how much you will need to save per month to save up for a house deposit. You will just need to know what priced house (in todays dollars) you are looking at and when you hope to buy. You can also throw in expected returns on your savings and expected house price increases.

You can then play around with different expected savings returns, different house price increase assumptions, and different dates you want to buy a house to see how such changes impact your plans.

The great thing about this calculator is it factors in house price changes. Most only look at current prices, but as we know, house prices can and do increase in price over time. It’s nice to see how changes in house price impact how much you will need to save.

When saving for a house be careful increasing expected investment returns too much. If you plan to buy within the next 9 years, you don’t want to be invested all in shares. That limits how much you can expect your savings and investments can grow. You are much better (from a risk point of view) adjusting the house price expectations or duration (when you are buying house).

For personalised advice on deciding whether or not buying a property should be part of your financial plan, then get in touch for a no obligations chat to see how we may be able to add value for you.

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