Owning your own home

Buying a home is an investment like any other

I just did a DCF valuation over a 30 year projection with following assumptions:

• My LTV, interest rate, operating expenses and estimated WACC
  
• 1% per annum growth in house price
  
• Cost of renting would be equal to cost of mortgage repayments for like for like property
  
  

Which gave me an IRR of 3.1 percent. Are there any equally stable investment opportunities that would give a better rate of return if I rented and stuck our deposit into those instead?