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

If you’re a homeowner in Miami 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 different neighborhood, or finally finding a place that feels just right. But then the reality of today’s interest rates hits, and suddenly, that idea gets shelved.

This scenario is playing out for many across the country. Millions of homeowners locked in at historically low rates in 2020 or 2021. Now, with interest rates on the rise, those same homeowners are hesitant to let go of what seems like a fantastic deal—even if their current home no longer fits their lifestyle.

This phenomenon is known as the “lock-in effect,” and it’s a significant factor in the current market. However, it doesn’t mean you’re out of options. If you’ve been hesitating, unsure whether to stay or go, consider these three questions to help you find clarity and make a confident decision.

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, does your home still support your daily 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 might have changed—maybe you’re working from home more often, caring for aging parents, or welcoming a new addition to the family. Or perhaps you’ve simply outgrown the space emotionally. What was once a dream home might now feel like a never-ending to-do list.

It’s easy to set 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 ago. However, that doesn’t automatically mean moving isn’t financially viable. The key is to look at the entire picture.

Many homeowners today 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, reduce the amount you need to borrow, lower your monthly payment, or even help you avoid private mortgage insurance.

On the flip side, what lifestyle benefits could a move provide?

Maybe relocating would bring you closer to family, give your kids access to better schools, or provide that home office or outdoor space you’ve been craving. Perhaps it means downsizing and freeing up more 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 gains 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. For some, that’s the right choice. But it should be a decision you make, not a default option.

Ask yourself: If I choose 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 small compromises can 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 now. But asking the right questions—about your lifestyle, your goals, and your finances—can lead you toward clarity. Whether you decide to stay or go, the aim isn’t to time the market perfectly. It’s about making a move 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 what’s possible. This isn’t about pressuring you into a sale; it’s about giving you the clarity and confidence you need to move forward in the direction that feels right for you.