Buying a home is a big commitment. You are agreeing to make a mortgage payment for anywhere between 15 and 30 years. In some cases, this mortgage payment may be more than you are used to paying in rent. This means that it is a good idea to to practice making a mortgage payment before you commit.

Before you start practicing your mortgage payment, you need to first figure out what you are likely to pay. You can use a mortgage calculator to help you figure out monthly payments. The best mortgage calculators also include property taxes and homeowners insurance in the calculations. You can get estimates for these numbers from a mortgage broker or from a real estate agent. You should also add about 30% of the monthly payment you come up with to estimate utilities and maintenance.

Next, you begin practicing to make the payment. Let’s say you pay $700 a month in rent and utilities. Your costs with a new mortgage, including estimated taxes, insurance, utilities and maintenance, are about $1,350 a month. That means that there is $650 difference between what you pay now, and what you will pay with a home mortgage loan. Take that $650 and put it in a savings account. Do this for at least six months. If you can make those “payments” for six months without trouble (still saving and making other bills), then you can probably afford a home.

Plus, you can use the money you saved up to help cover closing costs or augment your down payment.