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

If you’re a homeowner in Greater Sarasota with a low mortgage rate, you might be feeling a bit stuck lately. Perhaps you’ve thought about moving—whether it’s for more space, a different location, or finally finding a home that feels just right. But then the reality of today’s interest rates hits, 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 in 2020 or 2021 are now hesitant to let go of what feels like a fantastic deal—even if their current home no longer fits their lifestyle.

This phenomenon is often referred to as the “lock-in effect,” and it’s a significant factor in the decision-making process. However, it doesn’t mean you’re out of options. If you’ve been hesitating, unsure whether to stay or go, there are three questions that can help you gain clarity—and make a decision you feel confident about.

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

This might be the most crucial question to consider. When you look beyond the interest rate and the numbers, does your home still support your day-to-day life?

Perhaps what once felt spacious now feels cramped. Or maybe your home feels too large 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 you’ve welcomed a new family member. Or perhaps you’ve simply outgrown the space emotionally. What once felt like a 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 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, mentally, and physically. The right home doesn’t have to be perfect, but it should simplify 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 today’s interest rates are higher than they were a few years ago. However, that doesn’t automatically mean moving isn’t financially feasible. What’s important is how the complete picture looks for you.

Many homeowners today are sitting on record 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 beginning of the pandemic, based on CoreLogic’s Homeowner Equity Insights report.

This means that many homeowners here are also sitting on substantial equity, which could be a game changer if you’re considering a move.

That equity could serve as your down payment on a new home. It could reduce the amount you need to borrow, lower your monthly payment, or help you avoid private mortgage insurance.

Then there’s the other side of the equation: what lifestyle benefits could a move bring you?

Maybe it would bring you closer to family, provide your kids with access to a better school district, or offer the home office or outdoor space you’ve been wanting. Perhaps it means downsizing and having more cash flow each month. Or finally settling in a neighborhood that feels more like home, such as the charming streets of downtown Sarasota or the peaceful communities in Palmer Ranch.

Moving isn’t just a financial decision; it’s a quality-of-life choice. 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. In fact, for some people, that’s the right decision. But it’s essential that it’s a choice, not just a default reaction.

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. In many cases, those small 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 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 goal 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 comes next, let’s have a conversation. We’ll help you weigh the pros and cons, look at real numbers, and explore what’s possible. Not to pressure you into a sale, but to provide the clarity and confidence you need to move forward in the direction that’s right for you.