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

If you’re a homeowner in Upstate South Carolina, especially around Lake Keowee, you might be feeling a bit stuck these days. Perhaps you’ve considered moving—whether it’s to find a larger space, change your scenery, or finally settle into a home that feels just right. But then the reality of today’s mortgage rates hits, and suddenly, that idea 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 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’s a significant factor in the current market. However, it doesn’t mean you’re out of options. If you’ve been on the fence about whether to stay or move, consider these three questions to help you gain clarity and make a decision you can feel good about.

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

This is a crucial starting point. When you look beyond the interest rate and the spreadsheets, 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 often, caring for aging parents, or have welcomed a new family member. Or perhaps you’ve simply outgrown your space emotionally. What was once your dream home may now feel like a never-ending to-do list.

It’s easy to 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 also emotionally and mentally. 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 now than they were a few years ago. However, that doesn’t automatically mean that moving isn’t a viable financial option. The key is to assess the full 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 means many homeowners here are also sitting on substantial equity that could be used as a down payment on a new home. This equity could lower your monthly payments or help you avoid private mortgage insurance.

On the flip side, consider what lifestyle benefits a move could offer you. Perhaps relocating would bring you closer to family, provide your children with access to better schools, or give you 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 that feels like home.

Moving isn’t just about finances; it’s also about improving your quality of life. When you weigh both the benefits and the 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?

Choosing to stay put can be the right decision for many people. But it’s essential that this choice is made consciously, rather than as a default reaction.

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 no longer meets my needs? Convert that spare room into a proper office? Redesign the backyard so it becomes a space I actually use?

Staying doesn’t have to mean settling for less. Sometimes, finding peace with your current home involves creating a plan for improvement—whether through minor updates, strategic renovations, or simply adjusting how you use your space.

However, staying without a plan can lead to years of frustration. Often, those quiet compromises can accumulate into 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 simply facing a decision that deserves careful 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 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’ll help you weigh the pros and cons, look at real numbers, and explore your options. This isn’t about pressuring you into a sale; it’s about providing the clarity and confidence you need to move forward in the direction that feels right for you.