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

If you’re a homeowner in Tallahassee with a low mortgage rate, you might be feeling a bit stuck lately. Perhaps you’ve considered making a move—whether it’s for more space, a different location, or finally finding 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 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, there are three questions 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 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 spacious now feels cramped, or perhaps your home seems too large and quiet since the kids moved out. Your needs may have changed—maybe you’re working from home more, caring for aging parents, or welcoming a new family member. Or maybe you’ve simply outgrown your 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 also emotionally, mentally, and physically. The right home doesn’t need to be perfect, but it should simplify your daily life rather than 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 financially feasible. What’s essential is how the complete picture looks for you.

Many homeowners in Tallahassee are sitting on substantial 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 significantly up from $182,000 at the beginning of the pandemic, based on CoreLogic’s Homeowner Equity Insights report.

This means that many homeowners here may also be sitting on substantial equity, which could serve as a down payment on a new home. It can reduce the amount you need to borrow, lower your monthly payment, or help you avoid private mortgage insurance.

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

Moving isn’t just a financial decision; it’s a quality-of-life choice. When you weigh both the gains and the 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 decision. But it should be a conscious choice, 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 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 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” can be 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 need to have all the answers right now. But asking the right questions—about your lifestyle, your goals, and your finances—can 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 move that supports your life and your future.

If you’re unsure about what your next steps should be, let’s have a conversation. We can help you weigh the pros and cons, look at real numbers, and explore your options. There’s no pressure to make a sale; we’re here to provide the clarity and confidence you need to move forward in the direction that’s right for you.