Stuck Between Moving and Staying? These 3 Questions Can Help You Decide in the Greater Akron Area

If you’re a homeowner in the Greater Akron Area 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 home that feels just right. But then the reality of today’s interest rates sets in, 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 let go of what feels like an unbeatable 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, unsure whether to stay or go, there are three questions that can help you find 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, the numbers, and the spreadsheets, does your home still support your daily life?

Maybe what once felt spacious now feels cramped. Or perhaps your home feels too big and quiet since the kids moved out. Your needs might have shifted—maybe you’re working from home more often, caring for aging parents, or you’ve welcomed a new family member. Or maybe you’ve simply outgrown the space emotionally. What used to be 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 aligns with your lifestyle, it’s worth considering what it’s costing you to stay—not just financially, but emotionally, mentally, and physically. The right home doesn’t have to be perfect, but it should enhance 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 that moving isn’t financially feasible. The key is to look at the full picture.

Many homeowners in the Greater Akron Area 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 up from $274,000 at the end of 2022—and a substantial increase 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, reduce the amount you need to borrow, lower your monthly payment, or even 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 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 that feels like home.

Moving isn’t just a financial decision; it’s also about 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 initially seem.

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 absolutely the right decision. But it’s essential that staying is a choice, not a default reaction.

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 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, coming to terms with your current home involves creating a plan to enhance 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. 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’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 away. But asking the right questions—about your lifestyle, your goals, and your finances—can lead you toward clarity. Whether you choose to stay or go, the goal isn’t to perfectly time the market. It’s to make a decision that supports your life and future.

If you’re uncertain 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. Our aim isn’t to pressure you into a sale, but to provide the clarity and confidence you need to move forward in the direction that feels right for you.