New app will show potential homebuyers “true lifestyle costs”

Minnesota-based NorthstarMLS has released a tool for its members to help clients choose homes they can afford.

The tool is offered by real estate startup TLCengine, and calculates a home’s monthly costs beyond mortgage payments: property taxes, utility bills, and commuting expenses to name a few. The app uses algorithms to help calculate the costs of 31 different demographic trends and lifestyles.

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