HouseCheckup's rent vs buy calculator helps you decide whether renting or buying makes more financial sense for your situation. With average UK rents now exceeding £1,300/month according to the ONS and house prices at record highs, the answer is not always obvious. Enter your rent, potential purchase price, deposit, and expected time horizon to see a side-by-side comparison of total costs, equity built, and net wealth over 5, 10, and 25 years.
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It depends on location, deposit size, interest rates, and how long you stay. In many parts of the UK, buying is cheaper than renting over 10+ years because you build equity and benefit from capital growth. In expensive areas with low yields, renting and investing the difference can be better short-term. HouseCheckup models both scenarios.
The calculator includes mortgage repayments, stamp duty, solicitor and survey fees, maintenance (typically 1% of property value per year), insurance, rent increases (modelled at 3–5% per year), house price growth, and the opportunity cost of your deposit. This gives a true like-for-like comparison.
Typically 5–7 years, depending on purchase costs and house price growth. The upfront costs of buying (stamp duty, solicitor fees, surveys) mean renting is usually cheaper in the first 2–3 years. Beyond 5 years, equity growth and fixed mortgage payments typically make buying the better financial choice.