If you’re a homeowner in Santa Clarita with a low mortgage rate, you might feel a bit stuck lately. Perhaps you’ve considered making a move—seeking more space, changing neighborhoods, 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 back in 2020 or 2021 are now hesitant to let go of what seems 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 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 a crucial question to consider. When you look beyond the mortgage rate and the numbers, is your home still supporting your daily life?
Maybe what once felt spacious now feels cramped. Or perhaps your home feels too large and quiet since the kids moved out. Your needs may have shifted—maybe you’re working from home more often, caring for aging parents, or you’ve welcomed a new family member. Or perhaps you’ve simply outgrown the space emotionally. What used to feel like 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 suits your lifestyle, it’s worth considering what it’s costing you to stay—not just financially, but emotionally and mentally as well. The right home doesn’t have to be perfect, but it should make your daily life easier, not harder.
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 sound option. What matters is how the entire picture looks for you.
Many homeowners today are sitting on substantial 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 significant rise from $182,000 at the beginning of the pandemic, based on CoreLogic’s Homeowner Equity Insights report.
This increase means many homeowners in the area are also sitting on impressive amounts of equity, which could be a game changer when considering a move.
This equity could serve as your down payment on a new home, potentially reducing the amount you need to borrow, lowering your monthly payment, or even helping you avoid private mortgage insurance.
On the flip side, what lifestyle benefits could a move bring you?
Maybe 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 dreaming about. Perhaps it means downsizing and having more money in your pocket each month. Or finally settling in a neighborhood that feels like home.
Moving isn’t just about finances; it’s also about quality of life. When you weigh both the potential gains and costs, you might find that the numbers aren’t as one-sided as they first 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 people, that’s the right choice. But it should be a conscious decision, 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 so it actually gets used?
Staying doesn’t have to mean settling. Sometimes, making peace with your current home involves creating a plan to improve 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. In many cases, those small compromises can add up to something more expensive 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 some careful thought.
You don’t need to have all the answers right now. But asking the right questions—about your lifestyle, goals, and finances—can guide you toward clarity. Whether you decide to stay or go, the aim isn’t to time the market perfectly. It’s to make a choice that supports your life and future.
If you’re unsure 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. This isn’t about pressuring you into a sale; it’s about giving you the clarity and confidence you need to move forward in the direction that feels right for you.
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