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

If you’re a homeowner in the Tulsa Metro area with a low mortgage rate, you might be feeling a bit stuck these days. Perhaps you’ve considered making a move—whether that’s finding a larger space, relocating to a different neighborhood, or finally securing a home that feels just right. But then the reality of today’s interest 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 back 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 housing market. However, it doesn’t mean you’re out of options. If you’ve been on the fence about whether to stay or go, there are three questions to consider that can 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 a crucial question to ask yourself. When you look beyond the interest rate and the numbers, is your home still supporting 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 may have changed—maybe you’re working from home more often, caring for aging parents, or you’ve welcomed a new addition to the family. Or maybe you’ve just outgrown the space emotionally. What once felt like a dream home now feels like a list of chores you can’t keep up with.

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 have 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. But that doesn’t automatically mean that moving isn’t a financially viable option. 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 up from $274,000 at the end of 2022—and up even more significantly 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, potentially lowering the amount you need to borrow, reducing your monthly payment, or even allowing you to avoid private mortgage insurance.

And let’s not forget the lifestyle benefits a move could bring. Perhaps relocating would bring you closer to family, provide your kids with access to better schools, or offer that home office or outdoor space you’ve been dreaming about. Maybe 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 about finances; it’s 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 first seem.

If you stay, are you staying intentionally—or just avoiding a hard choice?

It’s perfectly acceptable to stay where you are. In fact, for some, that’s the right choice. But it should be a conscious decision, not just a default option.

Consider this: If you choose to stay for the next three to five years, what would you need to change or invest in to make this home truly work for you? Would you 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 costly than moving would have been.

Final Thoughts

Feeling “stuck” is understandably 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 have to have all the answers today. But asking the right questions—about your lifestyle, your goals, and your finances—can help 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 choice that supports your life and your future.

If you’re unsure about what comes 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.