Your Situation
Assumptions
Buying costs included:
Mortgage payments, stamp duty, maintenance (1% of value/yr), buildings insurance (£300/yr), solicitor fees (£2,000), survey (£750)
Mortgage payments, stamp duty, maintenance (1% of value/yr), buildings insurance (£300/yr), solicitor fees (£2,000), survey (£750)
Renting costs included:
Monthly rent, tenant insurance (£150/yr), rent inflation (3%/yr). Deposit opportunity cost (4% return on deposit if invested instead)
Monthly rent, tenant insurance (£150/yr), rent inflation (3%/yr). Deposit opportunity cost (4% return on deposit if invested instead)
Verdict after 7 years
Buying saves more
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Breakeven pointYear ~5
🏠 Buying
Total mortgage paid—
Stamp duty—
Maintenance—
Total cost—
Equity gained—
Net cost—
🔑 Renting
Total rent paid—
Insurance—
Opp. cost of deposit—
Total cost—
No equity built£0
Net cost—
📌 Key insight
Important: This calculator provides illustrative estimates only and does not constitute financial or legal advice. Individual circumstances vary significantly. Tax rules, mortgage rates, and property values may change. Always consult a qualified financial adviser before making a property purchase decision. Cavendish Knight is not authorised by the Financial Conduct Authority.