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

If you’re a homeowner in Eastern North Carolina 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 reality hits when you think about today’s interest rates, and suddenly, that idea gets pushed aside.

This situation is playing out for many homeowners across the country. Millions locked in at historically low rates in 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 consideration. 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, there are three questions that can help you gain clarity—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 interest rate and the numbers, does your home still support 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 might have shifted—maybe you’re working from home more, caring for aging parents, or you’ve welcomed a new family member. Or it could be that 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 set 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 in terms of money, but also emotionally, mentally, and physically. The right home doesn’t need to be perfect, but it should make your daily life easier, not more complicated.

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. What’s essential is how the overall picture looks for you.

Many homeowners today are sitting on impressive 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 significant jump 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, potentially reducing the amount you need to borrow, lowering your monthly payment, or even helping you avoid private mortgage insurance.

On the flip side, consider what lifestyle benefits a move could bring. Perhaps it would bring you closer to family, provide your kids access to better schools, or offer that home office or outdoor space you’ve been dreaming of. Maybe it means downsizing and freeing up some cash each month or finally settling in a neighborhood that feels like home.

Moving isn’t just a financial decision; it’s a quality-of-life decision. When you weigh both the benefits and the 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 stay where you are. In fact, for some people, that’s absolutely the right choice. But here’s the catch: it should be a conscious decision, not just a default option.

Ask yourself: If I choose to stay for the next three to five years, what would I need to change or invest in to make this home truly work 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, coming to terms with your current home involves making 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 small compromises 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 away. But by asking the right questions—about your lifestyle, your goals, and your finances—you can gain clarity. Whether you choose to stay or move, the goal isn’t to time the market perfectly. It’s to make a decision that supports your life and future.

If you’re uncertain about what to do next, let’s talk it through. We’ll help you weigh the pros and cons, look at real numbers, and explore your options. Not to pressure you into a sale, but to provide the clarity and confidence you need to move forward in the direction that feels right for you.