Your situation
Every assumption is editable — the honest answer is "it depends", so try your own numbers.
Property price
Deposit
Mortgage rate
Years you'd hold
THE ASSUMPTIONS
Rent
Per week — what you'd pay to rent instead.
Ownership running costs
Per year: rates, insurance, maintenance.
House price growth
Per year. NZ long-run average is ~5%, but it's lumpy.
Investment return
Per year if you invest the deposit + savings instead of buying.
Rent increases
Per year.
AFTER 10 YEARS, ON THESE ASSUMPTIONS
Buying comes out ahead
by $74,457 in net worth.
IF YOU BUY
Home value
$1,184,195
Less loan left
−$535,589
Net equity
$648,607
IF YOU RENT + INVEST
Investment pot
$574,149
Total rent paid
$387,479
Net position
$574,149
This is a simplified model: it ignores tax, transaction costs on buying and selling, and the non-financial value of owning (security, freedom to renovate) or renting (flexibility). It also assumes steady returns — real markets move in jumps. The result swings hard on the growth and investment-return assumptions, so treat it as a way to test your thinking, not a verdict.