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

If you’re a homeowner in the Metro-East area with a low mortgage rate, you might be feeling a bit stuck lately. Perhaps you’ve considered making a move—whether it’s for more space, a different location, or finally finding a home that feels just right. But then the reality of today’s interest rates hits, and just like that, the idea gets pushed aside.

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 feels like a fantastic deal—even if their current home no longer fits their lifestyle.

This phenomenon is known as the “lock-in effect,” and it’s a significant factor in the decision-making process. However, it doesn’t mean you’re out of options. If you’ve been on the fence, unsure whether to stay or go, consider these three questions that can help you gain clarity and make a confident decision.

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

This is perhaps the most crucial question to ask yourself. When you look past the interest rate and the numbers, does your home still support your day-to-day life?

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

It’s easy to set those feelings aside and focus solely on your current mortgage rate. But when your home no longer fits your lifestyle, it’s worth considering what it’s costing you to stay—not just financially, but emotionally and mentally as well. The right home doesn’t need to be perfect, but it should make your daily life easier, not more complicated.

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

It’s true that interest rates today are higher than they were a few years ago. However, that doesn’t automatically mean moving isn’t financially feasible. What’s important is how the entire picture looks for you.

Many homeowners 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 jump 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.

On the flip side, consider the lifestyle benefits a move could offer you.

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

Moving isn’t just about the finances; it’s also a quality-of-life decision. When you weigh both the potential gains 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 choose to stay where you are. For some, that’s absolutely the right decision. But it’s essential that this choice is made intentionally, rather than as a default option.

Ask yourself: If I decide to stay for the next three to five years, what would I need to change or invest in to make this home truly work for me? Would I renovate the kitchen that’s no longer functional? Convert the spare room into a proper office? Redesign the backyard so it actually gets used?

Staying doesn’t have to mean settling. Sometimes, finding peace with your current home involves making a plan to improve it—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. In many cases, those small compromises can add up to something more expensive than moving would have been.

Final Thoughts

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

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

If you’re uncertain about what comes next, let’s have a conversation. We’ll help you weigh the pros and cons, look at real numbers, and explore your options. There’s no pressure to make a sale—just a commitment to help you gain the clarity and confidence you need to move forward in the direction that feels right for you.