Should You Stay for the Rate or Move for Your Life?

If you locked in a 3% mortgage rate, it’s no surprise that you might be hesitant to let it go. It’s a rare gem in today’s market. So if the thought of moving crosses your mind, you might instantly shut it down with, “Why would I give that up?”

But here’s a better question to ask:

What’s more important, your mortgage rate or your lifestyle?

Most people don’t move just because of interest rates. They move because their lives change. Maybe your family is growing. Maybe your kids are off to college. Maybe you’re working from home full time and craving more space or less maintenance. Maybe your priorities have shifted.

Picture the Next Five Years

Will your current home still fit your life in the near future? Or are you already seeing signs it’s time for a change? Even if moving isn’t urgent today, it’s worth thinking about your timeline.

Because waiting could cost more than you think.

What Experts Say About Home Prices

Housing market experts project home prices will continue rising over the next five years. While not every year will bring massive jumps, small steady increases can add up quickly. That means the same home you’re eyeing today could be tens of thousands more expensive down the road.

Let’s break it down:

If you’re planning to upgrade to a $500,000 home in a few years, and prices rise even modestly, you could be looking at paying $50,000 to $80,000 more than you would today.

What About Mortgage Rates?

It’s true that mortgage rates aren’t as low as they were a few years ago. And while they may dip slightly, the days of 3% rates aren’t expected to return anytime soon. That’s why holding out for the “perfect” rate might not be the smartest long-term strategy.

Instead, the better move might be focusing on what you need from your home now and in the near future.

Bottom Line

That low mortgage rate has served you well. But if your home no longer fits your life, it might be time to talk about options.

Even if you’re just exploring possibilities, The Platz Group can help you look at the numbers, discuss your timeline, and plan for the future so you can move when the time is truly right for you.

Let’s talk through your next steps. Call us at 206-686-9345 or connect with a local expert today.