(MONEY Magazine) – For many Americans, the decision to buy a home is more emotional than economic. But if you're in a quandary about whether or not to go on renting, here are five questions to help you sort out your situation: -- Do you have enough money saved? While your monthly payments on a mortgage may be no more after taxes -- they are often even less -- than rent, the initial costs of home ownership, outlined in the accompanying article, are considerable. For a $100,000 house, you should figure on having a minimum of $28,000 -- $20,000 for the down payment, $6,000 for closing costs and a $2,000 cushion for contingencies. -- Are you the roving kind? Richard W. Peach, a senior economist with the Mortgage Bankers Association of America, says that with hefty borrowing and closing costs on both ends of the deal, it doesn't make any sense to buy if, for example, you stand a good chance of being relocated by your employer in a couple of years. ''You need to live in a house for at least five years to make buying the good investment it can be,'' he insists. -- Do you live in a region where renting makes sense? In cities like Baton Rouge, Houston, and Tulsa, where there is a housing glut and values are flat or falling, renting ends up being a bargain while buying becomes a risk. -- Are you a born renter? Some Americans can't imagine dealing with clogged drains, malfunctioning heating systems or dandelion-dotted lawns -- things that, for better or worse, a landlord is responsible for. Some renters also savor the delicious freedom of being able to pick up and move without the complications of liquidating a property.