Stuck Between Moving and Staying? These 3 Questions Can Help You Decide in the Charlotte Metro

If you’re a homeowner in the Carolinas or Georgia with a low mortgage rate, you might be feeling a bit stuck these days. Perhaps you’ve considered making a move—whether it’s for more space, a change of scenery, or finally finding a place that feels just right. But then reality sets in with today’s interest rates, 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 during 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 can be quite powerful. 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 you gain clarity 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 interest rate and the numbers, does your home still support 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 might have shifted—maybe you’re working from home more, caring for aging parents, or have welcomed a new family member. Or maybe you just feel like you’ve outgrown the space emotionally. What was once a dream home now feels like a never-ending to-do list.

It’s easy to brush these feelings aside and focus solely on your current mortgage rate. But when your home no longer aligns with your lifestyle, it’s worth considering what it’s costing you to stay—not just financially, but emotionally and mentally. The right home doesn’t have to be perfect, but it should simplify your daily life, not complicate it.

What would a move really cost you—and what might it make possible?

There’s no denying that interest rates are higher now than they were a few years ago. However, that doesn’t automatically mean moving isn’t a viable option for you. What’s essential is how the overall picture looks for your situation.

Many homeowners in the Charlotte Metro 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 means many homeowners here have built up considerable equity, which could serve as a down payment on a new home. It could lower your borrowing amount, reduce your monthly payment, or even help you avoid private mortgage insurance.

On the flip side, consider the lifestyle benefits a move could provide. Perhaps relocating would bring you closer to family, give your kids access to better schools, or offer that home office or outdoor space you’ve been dreaming about. It might also mean downsizing, allowing you to pocket some extra cash each month or finally settling in a neighborhood that feels like home.

Moving isn’t just about finances; it’s also about improving your quality of life. When you weigh both the gains and the costs, you might find 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 put. In fact, for some, that’s the right choice. But it’s essential that this decision is made consciously, not just because it’s the easier 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 enhance it—whether through small updates, strategic renovations, or simply adjusting how you utilize your space.

However, staying without a plan can lead to years of quiet frustration. Often, 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 might not be as trapped as you think. You’re simply facing a decision that deserves thoughtful 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 move, the goal isn’t to perfectly time the market. It’s about making a choice that supports your life and future.

If you’re uncertain about what to do next, let’s chat. We can help you weigh the pros and cons, examine real numbers, and explore your options. There’s no pressure to rush into a sale—just a commitment to help you find the clarity and confidence you need to move forward in the direction that feels right for you.