“I Can Never Move Because of My Low Interest Rate”

If you’re feeling stuck in your home because of your low interest rate, you’re not alone. 

With rates much higher than they were just a few years ago, many homeowners are hesitant to even think about selling. But here’s the question that many are wondering: is it ever worth selling your home and leaving your low interest rate?

The answer depends almost entirely on your personal circumstances. If you’re wrestling with the idea of leaving your low interest rate behind, it might help to ask yourself:

1. What benefits would a move bring to my life?

2. What tangible and intangible value will it create?

Your low interest rate might feel like a great reason to stay put, but there are plenty of valid reasons why moving makes more sense. These are some of the most common ones from current sellers:

- A Growing Family: If your current home is starting to feel cramped, upgrading to a larger home might be worth it regardless of your interest rate.

- New Job or Job Transfer: A shorter commute or better opportunities that come with relocating can mean a better work-life balance.

- Being Closer to Family: Whether you want to be closer to aging parents, grandkids, or siblings, closeness to family can be a strong reason for moving.

- Improved Quality of Life: Maybe you’re dreaming of better schools, easier access to nature, or nicer coffee shops that only a move can bring.

- Retirement or Downsizing: If maintaining your current home feels like too much work or expense, a smaller or more manageable home might be the right choice.

A new home could offer the space, flexibility, or convenience you’ve been craving, but you’ll have to weigh these lifestyle benefits against the financial trade-offs.

If the decision isn’t obvious, talking to a real estate agent can give you the insight you need to make the best choice for your situation. A knowledgeable agent will help you understand what’s happening in your local market so you can determine whether now is the right time to make a move.