There are two different reasons to buy a house. One is for owner occupancy. This is an emotional purchase that should be weighed on a scale of "How does this home contribute to my quality of life?" With a secondary scale of"Is This A Great Investment?" In general, an owner occupied home is very good on the first scale and average on the second scale.
The second reason to buy a house is Rental Investment. This is a non-owner occupied home that is rented to others. The scale for weighing this investment is non-emotional. If you have emotions about owning rental property, DON'T OWN IT. With rental property you can figure your Return on Investment. If the ROI exceeds what you would get in other investments, then it is a good investment to make. In general, the monthly rent received on a property should be at least 1% of the cost to purchase and repair the property. Any monthly rent above 1% of property value is very good. If the rent is below 1% of property value, then it is a poor investment.