Make no mistake – becoming a homeowner is an important step toward lasting financial security. But keep in mind, it’s only worth pursuing if you’re at the right stage in life. So many people get hopped up on the advantages of owning a house that few consider the advantages to renting. Different cohorts and single women renters in particular can reap tons of benefits by choosing to rent rather than own. Find out more about these advantages below.

The number one advantage:  Freedom

The plain truth about home ownership is that it ties you down to a specific location. If you’re at a place in life where you want long-term commitment and stability, you won’t feel hindered by being tied down.

On the other hand, if you’re a single woman then freedom is one of your best assets. By renting a home rather than buying one, you’re free to move about the country as you see fit.

Being a singleton is the ideal time to explore new places and seek out adventures. It’s also a great time to focus on your career. If moving from city to city benefits your career prospects, then renting is the clear choice.

Disposable income is a handy thing

By and large, you can rent a place for a lower monthly payment than you would fork over if you owned that same place. In popular locales where housing comes at a premium, you might save as much as $1500 a month by paying rent on a condo or apartment instead of making a mortgage payment.

While it’s obvious that paying rent won’t build you any equity, you may be at a place in your life where other priorities take precedence. If your passion is to travel, you can take that extra money and use it to check out the world – especially before you get tied down by having a family.

Alternately, you could use your extra income to begin building a savings account so you will be able to comfortably afford your own home someday. Putting the money in a retirement account is also a wise move.

Finally, having a little extra income so you can live it up a bit makes for another benefit to being a single woman renter. Especially if you’ve only recently begun earning a real salary, this could be the time to stock your closet with quality business suits and shoes.

Relief from maintenance duties

As any single woman renter can attest, it’s a fine thing to be able to call your landlord in the middle of the night when a pipe bursts rather than be burdened with fixing it yourself. Being a renter shifts both the cost and responsibility of repairs off your plate and onto the shoulders of your landlord. This means less stress, more free time, and fewer unexpected expenses.

Immunity from the market

Another advantage to being a single woman renter is that you’re not affected by the state of the housing market. As a renter, it’s a lot easier to pick up and relocate. This isn’t just because you don’t have a mortgage to worry about; it’s also because you don’t have to worry about selling your home in order to afford a move.

Equal footing with roommates

Though you can have a roommate if you own your home, in some ways it’s easier to have a roommate where you’re both renters. As a homeowner, you shoulder all the responsibility for the upkeep of your home. This means when something breaks or goes awry within your home, your roommate will likely be free of liability and you will have to attend to the problem.

If you’re a homeowner, you may find that having a roommate adds more stress to your life than you’d like. Even though a roommate means extra income, you could potentially be extra-wary of anybody living in your house for fear that they’ll provoke damage or extra wear and tear on your asset.

No yard work to worry about

Although some rental situations involve yard upkeep, the vast majority do not. If you don’t have much of a green thumb, or if you don’t have the time (or inclination) to keep your yard up to standards, being a renter gives you a free pass. Most landlords hire out the duties of yard maintenance, leaving you as a renter free to spend your extra time as you please – with the added benefit of a nice looking yard.

All in good time

If you’re perfectly content being a single woman renter, revel in the fact that there are many reasons for you to continue renting. Don’t let others get you down, especially if they try to tell you how much money you’re “throwing away” each month by not owning a home. Point out that your perks – and extra spending money – quite outweigh the reasons for you to look into home ownership at this time.