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

If you’re a homeowner in Silicon Valley with a low mortgage rate, you might be feeling a bit stuck lately. Perhaps you’ve considered making a move—seeking more space, changing neighborhoods, or finally finding a home that feels just right. But then reality sets in with today’s interest rates, and suddenly, that idea gets shelved.

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 give up what feels 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 today’s market. However, it doesn’t mean you’re out of options. If you’ve been on the fence, unsure whether to stay or go, consider these three questions to help you gain clarity and make a decision you feel good about.

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

This is perhaps the most crucial question to ask yourself. When you look beyond the interest rate and the spreadsheets, is your home still supporting your day-to-day life?

Maybe what once felt spacious now feels cramped, or perhaps your home seems too large and quiet since the kids moved out. Your needs may have shifted—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 once felt 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 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 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 a financially viable option. What matters is how the entire picture looks for you.

Many homeowners in Silicon Valley 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 jump from $182,000 at the beginning of the pandemic, based on CoreLogic’s Homeowner Equity Insights report.

This means many homeowners have built substantial equity, which could serve as a down payment on a new home, reduce the amount you need to borrow, lower your monthly payment, 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 kids with access to better schools, or give you that home office or outdoor space you’ve been dreaming about. Maybe it means downsizing, allowing you to pocket 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 your quality of life. When you weigh both the potential gains 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 best choice. But it’s essential that this is a conscious decision, not just a default option.

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, 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. In many cases, those small compromises can add up to something more expensive than moving would have been.

Final Thoughts

Feeling “stuck” is frustrating, but the good news is that 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, your goals, and your finances—you can gain clarity. Whether you decide to stay or go, the aim isn’t to time the market perfectly; it’s to make a move that supports your life and future.

If you’re uncertain about what to do next, let’s talk it through. We can help you weigh the pros and cons, look at real numbers, and explore what’s possible. Our goal isn’t 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.