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

If you’re a homeowner in Charleston and the Islands with a low mortgage rate, you might be feeling a bit stuck these days. Perhaps you’ve considered making a move—whether it’s for more space, a change of scenery, or finally finding that perfect home that fits your lifestyle. But then reality hits when you think about today’s interest rates, and just like that, the 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 meets their needs.

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 on the fence about whether to stay or go, consider these three questions to help you find clarity and make a decision you feel good about.

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

This is a crucial question to ponder. When you look beyond the interest rate and the numbers, does your home still support your daily life?

Maybe what once felt spacious now feels cramped, or perhaps your home feels too large and empty since the kids have moved out. Your needs might have changed—maybe you’re working from home more often, caring for aging parents, or you’ve welcomed a new family member. It’s also possible that you’ve simply 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 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 financially feasible for you. The key is to look at the complete picture.

Many homeowners today 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 up from $182,000 at the beginning of the pandemic, based on CoreLogic’s Homeowner Equity Insights report.

This equity can help reduce the amount you need to borrow, lower your monthly payment, or even allow you to 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 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 a financial decision; it’s also about improving your quality of life. When you weigh both the potential benefits and costs, you might find that the numbers aren’t as one-sided as they seem at first glance.

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 the right decision. But it’s important that this choice is made intentionally, rather than defaulting to it.

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, finding peace 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 about making a decision 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. Our aim isn’t 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.