Guide · Property
Renting or buying
Compare buying now, renting then buying, and keeping renting from the same starting savings.
What you enter
Choose where the home is first: that decides whether English, Scottish or Welsh property tax rules apply. Then add the price, a similar home’s rent, the savings you could use today, your deposit, whether you’re a first-time buyer and how many months you’d rent before buying.
If a figure needed for the comparison is missing, the page tells you which one to add rather than guessing it.
Tick “My plan’s monthly spending already includes my rent” if your forecast already counts your rent, so it isn’t counted twice.
Rent or Buy is part of FLYNQD Full. Anyone can watch the walkthrough, which uses example figures and leaves your own plan untouched. You can open it from this guide, Help, the Rent or Buy page, or “Compare renting and buying” in your first-home plan.
Do you have enough to buy?
The first result adds up the cash needed upfront: deposit, property tax, and legal, survey, moving and mortgage fees. It then takes away your available savings and shows any shortfall as a sum you can check.
First-time buyer relief in England only applies to homes up to £500,000. Above that, standard rates apply, which is why tax on an expensive home can be much higher than expected.
Money you’ve set aside in your Emergency Fund is kept out of the savings available to buy.
Monthly costs and the longer view
The monthly comparison shows first-month costs of renting and of buying, including the mortgage payment, upkeep and other costs you entered. It doesn’t check whether the payment is affordable or whether a lender would approve it.
The 10-year comparison only ranks options that can actually be funded. Figures are in future pounds, with selling costs deducted. Open “Assumptions and workings” to see every rate used.
Saving or applying
Save scenario keeps the comparison without changing your plan. Apply adds your chosen option to your forecast: a planned home and mortgage if you buy, and the change in rent.
What FLYNQD doesn't model yet
Council tax, energy bills and lender affordability checks aren’t assessed. Tax on selling a home isn’t deducted.
Explore in your plan
Related guides
Sources
These sources haven’t had a dated review recorded for this guide yet. Rules can change, so check the linked pages.
FLYNQD provides planning illustrations and general information, not personalised financial advice. Forecasts depend on the figures and assumptions used.