diff --git a/spawn.c b/spawn.c
index 2cb2b65e..e63133fe 100644
--- a/spawn.c
+++ b/spawn.c
@@ -389,7 +389,7 @@ spawn_pane(struct spawn_context *sc, char **cause)
 	 */
 	if (chdir(new_wp->cwd) == 0)
 		environ_set(child, "PWD", 0, "%s", new_wp->cwd);
-	else if ((tmp = find_home()) != NULL || chdir(tmp) == 0)
+	else if ((tmp = find_home()) != NULL && chdir(tmp) == 0)
 		environ_set(child, "PWD", 0, "%s", tmp);
 	else if (chdir("/") == 0)
 		environ_set(child, "PWD", 0, "/");