Rent or buy - a useful tool
I've noticed a lot of the discussion surrounding renting or buying doesn't take into account many of the costs of either scenario. There are simple costs like rent or interest payments, but often appreciation of the property, opportunity cost of money spent, rising rental costs, the costs of buying and selling etc. are not included.
I've developed a simple (ad free, promotion free etc) tool to help. It doesn't account for every scenario but it has the ability to account for all of the above. Please note it might not apply all available grants for home buyers, and also note that it assumes any extra cash you have goes into an offset account (the mortgage non deductible debt means this is likely a safe move).
Have a play around and let me know what you think. I'd be grateful if you let me know if any key considerations are missing here or if calculations seem wildly wrong!
Please note this is something I made for myself but thought others may find useful. There may be incorrect calculations / assumptions etc so please do not base major decisions on the output of a tool an internet stranger has released!
I'll try to keep it updated and implement any popular suggestions.