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

If you’re a homeowner in South Florida with a low mortgage rate, you might be feeling a bit stuck these days. You may have considered making a move—perhaps looking for more space, changing your surroundings, or finally finding a home that feels just right. But then reality hits with today’s interest rates, and suddenly, that thought gets pushed aside.

This scenario is playing out for many homeowners across the nation. Millions secured historically low rates back in 2020 or 2021, and now, with interest rates on the rise, those same homeowners hesitate to let go of what seems like a fantastic deal—even if their current home no longer meets their needs.

This phenomenon is known as the “lock-in effect,” and it’s a significant factor in today’s real estate landscape. However, it doesn’t mean you’re out of options. If you’ve been on the fence, unsure whether to stay put or make a move, consider these three questions to help you gain clarity and make a decision you feel confident about.

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

This is a crucial starting point. When you look beyond the mortgage rate and the numbers, is your home still supporting your day-to-day life?

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

It’s easy to brush those feelings aside and focus solely on your current interest 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 also emotionally and mentally. The right home doesn’t need to be perfect, but it should simplify your daily life, not 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 ago. However, that doesn’t automatically mean moving isn’t a viable option. The key is to look at the full picture.

Many homeowners in South Florida are sitting on significant 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 substantial 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 payments, or even help you avoid private mortgage insurance.

Then there’s the other side of the equation: what lifestyle benefits could a move 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 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 a financial decision; it’s also a quality-of-life choice. 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 choose to stay where you are. In fact, for some folks, that’s the best decision. But it’s essential that this choice is intentional, not just 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? Transform the spare room into a dedicated office? Redesign the backyard so it actually gets used?

Staying doesn’t have to mean settling. Sometimes, coming to terms with your current home involves creating a plan to enhance 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 requires careful consideration.

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

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