Budget to Buy a Home: Excel Tool
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
![Budget to Buy a Home: Excel Tool - Templarket - Business Templates Marketplace]()
If you are starting to save for a house, you may be curious as to how many months you will have to save for in order to theoretically make a purchase. This might include a bank loan or an all cash payment. Either way, the primary thing you want to focus on is how much free cash flow are you generating on a monthly basis.
This model sets up your expected monthly income and then allows for a place to enter expected taxes and expected living expenses in order to drill down to the net cash flow you should be able to save each month.
What you want to focus on is minimizing the living expenses in your planning process and you will be able to see how that effects the amount of months you will have to save for.
You really can't do much to minimize taxes except for have a good accountant and then you may or may not have some control on how much your gross earnings are.
Based on those inputs as well as the expected purchase price, down payment, current cash savings and cash reserve needed, you will see a projection that aggregates your monthly payments and smartly spits out the amount of months it will take for you to meet the cash requirement to make the purchase.
This assumes you have decent credit and can actually get the loan. You will want to make it so that your free cash flow after the new house is purchased is more than 50% of the monthly mortgage. Keep in mind that is just a rough number and all banks will vary in what they require.
You could put in a 100% down payment and that would force the model to show you a scenario in which you have bought the house without a loan and in that case the cumulative cash position will simply rise per the free cash flow after the purchase.
This model sets up your expected monthly income and then allows for a place to enter expected taxes and expected living expenses in order to drill down to the net cash flow you should be able to save each month.
What you want to focus on is minimizing the living expenses in your planning process and you will be able to see how that effects the amount of months you will have to save for.
You really can't do much to minimize taxes except for have a good accountant and then you may or may not have some control on how much your gross earnings are.
Based on those inputs as well as the expected purchase price, down payment, current cash savings and cash reserve needed, you will see a projection that aggregates your monthly payments and smartly spits out the amount of months it will take for you to meet the cash requirement to make the purchase.
This assumes you have decent credit and can actually get the loan. You will want to make it so that your free cash flow after the new house is purchased is more than 50% of the monthly mortgage. Keep in mind that is just a rough number and all banks will vary in what they require.
You could put in a 100% down payment and that would force the model to show you a scenario in which you have bought the house without a loan and in that case the cumulative cash position will simply rise per the free cash flow after the purchase.
