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

If you’re a homeowner in the Valley with a low mortgage rate, you might be feeling a bit stuck these days. Perhaps you’ve considered making a move—whether it’s upgrading for more space, relocating to a different part of town, or finally finding a home that feels just right. But then the reality of today’s interest rates hits, and suddenly, that idea gets pushed aside.

This scenario is playing out for many homeowners across the country. Millions locked in at historically low rates back in 2020 or 2021 are now hesitant to let go of what seems like an incredible 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 current market. However, it doesn’t mean you’re out of options. If you’ve been on the fence about whether to stay or go, there are three questions that can help clarify your situation and guide you toward 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 mortgage rate, is your home still supporting 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 often, caring for aging parents, or you’ve welcomed a new family member. Or maybe you’ve simply outgrown the space emotionally. What was once your dream home now feels like a never-ending to-do list.

It’s easy to focus solely on your current rate and ignore those feelings. But when your home no longer suits 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 have to be perfect, but it should make your daily life easier, not harder.

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 back. However, that doesn’t automatically mean moving isn’t financially feasible. What matters is how the entire picture looks for you.

Many homeowners in the Valley 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.

In the Valley, home values have also seen impressive growth, contributing to the equity many homeowners enjoy. This equity could serve as your down payment on a new home, reduce the amount you need to borrow, lower your monthly payments, or even help you avoid private mortgage insurance.

And let’s not forget the potential lifestyle benefits a move could bring.

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

Moving isn’t just a financial decision; it’s also about improving your quality of life. When you weigh both the gains and the costs, you might find that the numbers aren’t as one-sided as they first appear.

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 the best option. But it’s essential that this decision is intentional, not just a default choice.

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 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 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 costly than moving would have been.

Final Thoughts

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

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

If you’re uncertain about what comes next, let’s discuss it. We can help you weigh the pros and cons, look at real numbers, and explore what’s possible. This isn’t about pressuring you into a sale; it’s about giving you the clarity and confidence to move forward in the direction that feels right for you.