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

If you’re a homeowner in Coastal Virginia with a low mortgage rate, you might be feeling a bit stuck these days. Perhaps you've considered making a move—whether it’s to find a larger space, change your surroundings, or finally settle into 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 feels 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 quite powerful. However, it doesn’t mean you’re out of options. If you’ve been hesitating, unsure whether to stay or go, consider these three questions to 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 beyond the mortgage rate and the financial spreadsheets, does your home still support your daily life?

Maybe the space that once felt expansive 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 have welcomed a new family member. Or maybe you’ve simply outgrown the emotional connection to your space. What once felt like a dream home may now seem 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 aligns with 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 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 interest rates are higher now than they were a few years back. However, that doesn’t automatically mean moving isn’t a financially sound option. The key is to evaluate the full picture as it relates to your situation.

Many homeowners today are sitting on significant levels of equity. As of early 2024, the average mortgage-holding homeowner in the U.S. has about $299,000 in equity, according to ICE’s Mortgage Monitor report. This is 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, help reduce the amount you need to borrow, 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 relocating would bring you closer to family, provide your children access to better schools, or give you 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 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 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 consciously rather than being 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 remodel the kitchen that’s no longer functional? Convert the spare room into a proper office? Redesign the backyard to make it more usable?

Staying doesn’t have to mean settling. Sometimes, finding peace with your current home involves creating a plan to enhance it—whether through minor updates, strategic renovations, or simply rethinking how you use your space.

However, staying without a plan can lead to years of frustration. In many cases, those quiet 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 might not be as trapped as you 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 choose to stay or move, the objective isn’t to time the market perfectly. It’s to make a decision that supports your life and future.

If you’re unsure about what comes next, let’s talk it through. We can help you weigh the pros and cons, look at real numbers, and explore what’s possible. Our goal isn’t to push you into a sale, but to provide the clarity and confidence you need to move forward in the direction that’s right for you.