Found this useful website that helps you estimate what will cost more in the long term: Renting or Buying a house.
The site takes into account some factors, such as:
Maintenance costs, annual appreciation, Interest rate, etc.
Stock market returns, rent value, etc
After entering you data, the model then generates a very useful chart, showing the estimated wealth over time of renting vs buying. The plot below was generated using the default values:
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