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Stuck Between Moving and Staying? These 3 Questions Can Help You Decide

Donna Story

Real Estate was the perfect choice for Donna because she loves working with people.  Her involvement in the community and industry knowledge help...

Real Estate was the perfect choice for Donna because she loves working with people.  Her involvement in the community and industry knowledge help...

Jun 24 1 minutes read

If you’re a homeowner with a low mortgage rate, you might feel a bit stuck right now. Perhaps you’ve considered making a move—seeking more space, relocating, or finally finding a home that feels just right. But then the reality of today’s interest rates hits, and suddenly, that idea gets shelved.

This scenario is playing out for many homeowners across the country. Millions locked in at historically low rates in 2020 or 2021 are now hesitant to let go of what seems like a great deal—even if their current home no longer fits their lifestyle.

This phenomenon is known as the “lock-in effect,” and it can be a strong influence. However, it doesn’t mean you’re out of options. If you’ve been hesitating, unsure whether to stay or go, there are three questions that can provide clarity and help you make a confident decision.

Is your current home still working for your life—or just your loan?

This is a crucial question to consider. When you look beyond the interest rate and the numbers, does your home still support your day-to-day life?

Maybe what once felt spacious now feels cramped. Or perhaps your home feels too large and quiet since the kids moved out. Your needs may have shifted—maybe you’re working from home more, caring for aging parents, or you’ve welcomed a new family member. It’s also possible that you’ve simply outgrown the emotional connection to your space. What once felt like a dream home now feels like a never-ending to-do list.

It’s easy to push those feelings aside and focus solely on your current rate. But when your home no longer suits your lifestyle, it’s worth evaluating what it’s costing you to stay—not just financially, but also emotionally, mentally, and physically. The right home doesn’t need to be perfect, but it should simplify your daily life rather than complicate it.

What would a move really cost you—and what might it make possible?

There's no denying that today’s interest rates are higher than they were a few years ago. However, that doesn’t automatically mean moving isn’t a viable option. What matters is how the overall picture looks for you.

Many homeowners today are sitting on significant levels of equity. As of early 2024, the average mortgage-holding homeowner in the U.S. holds approximately $299,000 in equity, according to ICE’s Mortgage Monitor report. That’s an increase from $274,000 at the end of 2022—and a notable rise from $182,000 at the beginning of the pandemic, based on CoreLogic’s Homeowner Equity Insights report.

This equity could serve as your down payment on a new home, reduce the amount you need to borrow, lower your monthly payment, or help you avoid private mortgage insurance.

Then there’s the other side of the equation: what lifestyle benefits could a move provide?

Perhaps it would bring you closer to family, give your kids access to better schools, or provide that home office or outdoor space you’ve been wanting. Maybe it means downsizing and freeing up some cash each month. Or finally settling in a neighborhood where you feel more at home.

Moving isn’t just about finances; it’s also about quality of life. When you weigh both the benefits and costs, you might find that the numbers aren’t as one-sided as they initially seem.

If you stay, are you staying intentionally—or just avoiding a hard choice?

It’s perfectly fine to stay where you are. For some, that’s absolutely the right choice. But it’s essential that this decision is made consciously, not just as a fallback.

Ask yourself: If I choose to stay for the next three to five years, what changes or investments would I need to make to ensure this home truly works for me? Would I renovate the kitchen that’s become outdated? Convert the spare room into a functional office? Redesign the backyard to make it more enjoyable?

Staying doesn’t have to mean settling. Sometimes, making peace with your current home involves planning improvements—whether through small updates, strategic renovations, or simply adjusting how you use your space.

However, staying without a plan can lead to years of quiet frustration. Often, those small compromises can add up to something more costly than moving would have been.

Final Thoughts

Feeling “stuck” can be frustrating. But the good news is, you’re likely not as trapped as you think. You’re just facing a decision that requires careful consideration.

You don’t need to have all the answers right away. But asking the right questions—about your lifestyle, goals, and finances—can lead you toward clarity. Whether you decide to stay or go, the aim isn’t to time the market perfectly. It’s to make a choice that supports your life and future.

If you’re unsure about your next steps, let’s have a conversation. We can help you weigh the pros and cons, examine real numbers, and explore what’s possible. Our goal is to provide you with the clarity and confidence you need to move forward in the direction that feels right for you.

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