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

If you’re a homeowner in Dallas 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 settling into 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 in 2020 or 2021 are now hesitant to let go of what feels like a fantastic 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 decision-making process. However, it doesn’t mean you’re out of options. If you’ve been on the fence, unsure whether to stay or go, there are three questions that can help clarify your situation and guide you toward a decision you feel good about.

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

This is probably the most crucial question to ask. When you look beyond the interest rate and the numbers, is your home still supporting your daily life in Dallas?

Maybe what once felt spacious now feels cramped, especially if you’ve added new family members or taken on remote work. Or perhaps your home feels too large and quiet since the kids have moved out. Your needs may have changed—maybe you’re caring for aging parents or just need a better setup for your home office. It’s also possible that you’ve simply outgrown the space emotionally; what once felt like a dream home now feels more like a never-ending to-do list.

It’s easy to push those feelings aside and 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 in financial terms, but also emotionally and mentally. 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?

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 for you. What’s essential is how the complete picture looks for your situation.

Many homeowners in Dallas 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 equity could serve as your down payment on a new home, potentially reducing the amount you need to borrow, lowering your monthly payments, or helping you avoid private mortgage insurance.

On the flip side, consider the lifestyle benefits a move could offer you.

Perhaps relocating would bring you closer to family, provide your children 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 into a neighborhood where you feel more at home.

Moving isn’t just a financial decision; 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 initially seemed.

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

It’s perfectly fine to choose to stay where you are. For some, that’s the right decision. But it’s important that this choice is made consciously, not out of default.

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’s become outdated? Convert the spare room into a functional office? Redesign the backyard to make it more usable?

Staying doesn’t have to mean settling for less. Sometimes, coming to terms with your current home involves creating a plan to enhance it—whether through minor updates, strategic renovations, or simply changing how you utilize your space.

However, staying without a plan can lead to years of frustration. Often, those quiet compromises 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 warrants 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 help you 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 talk it over. 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 to move forward in the direction that’s right for you.