Waterbirth can be a relaxing and safe choice in the comfort of your own home.
I have three birth tubs available to my clients for use at their birth. Many women find water to be very relaxing at birth and appreciate the gentle choice for their babies.
Philosophically, I believe waterbirth is a safe choice. Babies can be born in the water and come out safely. In practice, we approach birth in the tub as "position" for birth rather than a goal. If a mom wants to be in the water and the baby comes out - great! If she's is in the water then gets out to squat or try hands and knees on the bed and the baby comes out - great!
ANY PLACE where the baby comes out is my favorite place. There are no "failed" waterbirths. There are many different places and positions for birth.