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

If you’re a homeowner enjoying a low mortgage rate, you might find yourself feeling a bit stuck these days. Perhaps you’ve considered making a move—whether it’s for more space, a change of scenery, or finally finding that perfect home at the Jersey Shore. But then reality sets in with today’s interest rates, and the idea quickly gets shelved.

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

This phenomenon is known as the “lock-in effect,” and it can be a powerful influence. But just because you feel stuck doesn’t mean you don’t have options. If you’re unsure whether to stay put or make a move, consider these three questions to help bring clarity to your decision-making process.

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

This is a crucial question to ask. When you look past the interest rate and the spreadsheets, does your home still support your daily 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 might have changed—maybe you’re working from home more often, caring for aging parents, or you’ve 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 push those feelings aside and focus solely on your current rate. However, when your home no longer fits your lifestyle, it’s worth considering what it’s costing you to stay—not just financially, but also emotionally and mentally. The right home doesn’t have 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?

While it’s true that today’s interest rates are higher than they were a few years ago, that doesn’t automatically mean moving isn’t financially feasible. The key is to look at the full picture.

Many homeowners today are sitting on substantial 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 significant jump from $182,000 at the beginning of the pandemic, based on CoreLogic’s Homeowner Equity Insights report.

This equity could help lower your monthly payments or even allow you to avoid private mortgage insurance.

On the flip side, consider what lifestyle benefits a move could offer you. Perhaps it would bring you closer to family, provide your kids with access to better schools, or give you the home office or outdoor space you’ve been yearning for. Maybe it means downsizing and freeing up 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 improving your quality of life. When you weigh both the potential gains and costs, you might find that the numbers aren’t as one-sided as they first seem.

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

Choosing to stay put can be the right decision for many, but it should be a conscious choice rather than a default option.

Ask yourself: If I decide 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 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, making peace with your current home involves creating a plan to improve it—whether through minor 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 costly 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 now. But by asking the right questions about your lifestyle, goals, and finances, you can gain clarity. Whether you decide 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 to do next, let’s chat. 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 a direction that feels right for you.