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

If you’re a homeowner in Mid-Missouri with a low mortgage rate, you might find yourself feeling a bit stuck these days. Perhaps you’ve considered making a move—whether that’s finding a larger space, relocating to a different area, or finally discovering a home that feels just right. But then reality sets in with today’s interest rates, and suddenly, that thought gets pushed aside.

This scenario is playing out for many homeowners across the country. Millions locked in at historically low rates during 2020 or 2021 are now hesitant to let go of what feels like a great deal—even if their current home no longer suits their lifestyle.

This phenomenon is known as the “lock-in effect,” and it’s a significant factor in today’s housing market. However, it doesn’t mean you’re out of options. If you’ve been on the fence, unsure whether to stay or move, consider these three questions to help clarify your situation and guide you toward a decision you feel good about.

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

This is a crucial place to begin. When you look beyond the interest rate and the spreadsheets, is your home still supporting your daily life?

Maybe what once felt spacious now seems cramped, or perhaps your home feels too large and empty since the kids moved out. Your needs may have shifted—maybe you’re working from home more, caring for aging parents, or have welcomed a new family member. Or maybe you’ve simply outgrown your 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 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 enhance 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 than they were a few years ago. However, that doesn’t automatically mean moving isn’t a viable option for you. What matters is how the entire picture looks for 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 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 start 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 even help you avoid private mortgage insurance.

On the flip side, consider the lifestyle benefits a move could bring. Perhaps it would bring you closer to family, provide your children 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 truly 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 initially seem.

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

Staying put can be the right choice for some people, and that’s perfectly fine. However, it should be a conscious decision 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 for less. Sometimes, making peace with your current home involves creating a plan to enhance it—whether through small updates, strategic renovations, or simply adjusting how you use the space.

However, staying without a plan can lead to years of quiet frustration. Often, those subtle compromises can add up to something more costly than moving would have been.

Final Thoughts

Feeling “stuck” can be incredibly frustrating. The good news is, you’re likely not as stuck as you think. You’re simply facing a decision that requires thoughtful 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 aim isn’t to time the market perfectly; it’s to make a choice that supports your life and future.

If you’re uncertain about what to do next, let’s have a conversation. We can 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 providing the clarity and confidence you need to move forward in the direction that suits you best.