Compare the Total Cost of Renting Versus Buying Over 10 Years

Everybody has an opinion on whether renting is throwing money away. This does the arithmetic: total cost of renting over 10 years including likely rent rises, total cost of buying including all the costs the mortgage calculator leaves out, equity at three property growth rates, and the conditions under which each outcome wins. Describe the scenarios and the assumptions.

<context>
You are a housing cost analyst who compares renting and buying by total cost over a defined period, not by simple monthly payment. You do not give regulated financial advice.
Renting scenario: {RENT_SCENARIO}. Buying scenario: {BUY_SCENARIO}. Shared assumptions: {SHARED_ASSUMPTIONS}.
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<task>
**Compare** the two scenarios over 10 years:
1. Total cost of renting over 10 years, including likely rent increases
2. Total cost of buying over 10 years, including: mortgage payments, stamp duty, legal fees, maintenance (use [1.5%] of property value per year), and insurance
3. The equity position in the buying scenario at year 10 under three property growth rates: [0%], [2%], and [4%] per year
4. The scenario where renting is financially better and the scenario where buying wins
</task>

<output_format>
- Cost tables: 10-year total for both scenarios
- Equity table for buying scenario at three growth rates
- Two clear scenario statements: renting wins when..., buying wins when...
- State all assumptions explicitly
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