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Rent Vs Mortgage Model

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Putting togther a spreadsheet that should show cost of owning vs renting a property over a number of years and need some help. The idea is to illustrate financially the benefits of House price inflation gains minus cost of ownership versus cost of renting and investing saved costs in another asset i.e.ISA with an annual growth of say 7% and a few other user inputs.

I need to come up with a list of costs that are mutually exclusive with each choice, for instance home contents insurance are likely to be needed by both but Building insurance only for owning a house. Ive never purchased a house so a little naieve as to whats required. Come up with the following so far

House ownership

Mortgage cost

Stamp Duty

Mortgage fee(if applicable)

Solicitors fees

Survey/buying costs

Furnishing costs i.e.carpets, fridge etc

Decorating costs

Buildings insurance

Mortgage protection insurance(might be applicable to renting payment protection etc.)

Council tax

Ground maintenance fees


Rent security deposit


Furnishing costs likely to be slightly lower e.g. no need to buy a fridge


The spreadsheet will enable fluctuations in RPI, House price and wage inflation projections and hopefully provide a summary of profit/loss for each choice over a variable time frame linked by RPI.

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