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

If you’re a homeowner in Metro Detroit with a low mortgage rate, you might be feeling a bit stuck these days. You may have considered making a move—perhaps you need more space, want to change neighborhoods, or are looking for a home that feels more like your style. But then the reality of today’s interest rates hits, and suddenly, the idea gets pushed back to the bottom of your to-do list.

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 great 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 go, consider these three questions to help clarify your situation and make a decision you can feel good about.

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

This is perhaps the most crucial question to consider. When you look beyond the mortgage rate and the numbers, is your home still supporting your day-to-day life?

Maybe what once felt like a spacious haven now feels cramped, or perhaps your home feels too large and quiet since the kids moved out. Your needs may have evolved—maybe you’re working from home more, caring for aging parents, or have welcomed a new family member. Or it could be 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 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 and mentally as well. 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?

It’s true that today’s interest rates are higher than they were a few years ago. However, that doesn’t automatically mean moving isn’t a viable option. What matters is how the entire picture looks for you.

Many homeowners in Metro Detroit 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 notable rise from $182,000 at the start of the pandemic, based on CoreLogic’s Homeowner Equity Insights report.

In Southeast Michigan, home values have been steadily climbing, which means many homeowners are sitting on impressive amounts of equity. This equity could serve as your down payment on a new home, reduce the amount you need to borrow, lower your monthly payments, or help you avoid private mortgage insurance.

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

Moving isn’t just a financial decision; it’s also about quality of life. When you weigh both the benefits and 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, that’s the right choice. But it’s essential that this decision is made consciously, not just out of convenience.

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 to make it more usable?

Staying doesn’t have to mean settling. Sometimes, making peace with your current home involves planning improvements—whether through small updates, strategic renovations, or simply changing 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. 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 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 aim isn’t to time the market perfectly. It’s about making a choice 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. Our goal isn’t to push you into a sale but to provide the clarity and confidence you need to move forward in the direction that feels right for you.