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

If you’re a homeowner in the DMV with a low mortgage rate, you’re probably feeling a bit stuck right now. Maybe you’ve considered moving—whether it’s for more space, a different neighborhood, or finally finding a home that feels just right. But then reality sets in when you think about today’s interest rates, and before you know it, that idea gets pushed aside.

This scenario is playing out for many homeowners across the region. A lot of folks locked in at historically low rates back in 2020 or 2021. Now, with interest rates on the rise, those same homeowners are hesitant to let go of what seems like an unbeatable deal—even if their current home no longer meets their needs.

This phenomenon is known as the “lock-in effect,” and it can be a significant hurdle. But don’t worry, you still have options. If you’ve been on the fence about whether to stay or go, consider these three questions to help clarify your situation and make a decision you feel good about.

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

This is probably the most crucial question to ask yourself. When you look past 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 big 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 just outgrown the space emotionally. What used to feel 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. 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 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 a viable option for you. What’s important is how the entire picture looks for your situation.

Many homeowners in the DMV 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 substantial rise 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, potentially reducing the amount you need to borrow, lowering your monthly payment, or helping you avoid private mortgage insurance.

And let’s not forget the lifestyle perks that a move could offer. Maybe relocating would bring you closer to family, provide your kids with access to better schools, or give you that home office or outdoor space you’ve been dreaming of. Perhaps it means downsizing and having extra 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 benefits and costs, you may 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 stay where you are. In fact, for some people, that’s the best choice. But it’s essential that this decision is made consciously, not just because it’s easier.

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 to make it more usable?

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. Often, those little 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 just facing a decision that deserves some careful consideration.

You don’t have 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 goal isn’t to time the market perfectly. It’s about making a decision that supports your life and future.

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