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

If you’re a homeowner in Calgary or the surrounding areas with a low mortgage rate, you might be feeling a bit caught in a bind lately. You may have considered making a move—perhaps seeking more space, changing your location, or finally finding that perfect home that feels just right. But then the reality of today’s interest rates hits, and suddenly, the idea gets pushed aside.

This scenario is playing out for many across Canada. Millions of homeowners locked in at historically low rates in 2020 or 2021. Now, with interest rates on the rise, those same homeowners are hesitant to let go of what feels like an incredible 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 the decision-making process. However, it doesn’t mean you’re out of options. If you’ve been hesitating, unsure whether to stay or go, there are three questions that can help you find clarity—and make a decision you feel confident 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, beyond the numbers and spreadsheets, is your home still supporting your day-to-day 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 changed—maybe you’re working from home more often, caring for aging parents, or you’ve welcomed a new addition to the family. Or maybe you’ve simply outgrown the space emotionally. What once felt 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 emotionally, mentally, and physically. 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. But that doesn’t automatically mean moving isn’t financially viable. What matters is how the entire picture shapes up for you.

Many homeowners today are sitting on significant levels of equity. Canada’s soaring home values mean homeowners are sitting on jaw-dropping amounts of equity. As of May 2024, the average Canadian home cost $733,300, up nearly 40% from $524,900 just five years earlier, according to the Canadian Real Estate Association (CREA). In turn, Canadians have collectively built an estimated $4.7 trillion in home equity—yes, with a “T.” This figure, according to Clay Financial, represents between half and two-thirds of Canadians’ total net worth.

That equity could serve as your down payment on a new home. It could reduce the amount you need to borrow, lower your monthly payment, or help you avoid private mortgage insurance.

And then there’s the other side of the equation: what lifestyle benefits could a move provide?

Perhaps it would bring you closer to family, give your kids access to a better school district, or offer the home office or outdoor space you’ve been craving. Maybe it means downsizing and putting more money in your pocket each month. Or finally settling in a neighbourhood where you feel more at home.

Moving isn’t solely a financial decision. It’s a quality-of-life decision. When you factor in both the gains and the costs, you might find that the numbers aren’t as one-sided as they first appear.

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 absolutely the right choice. But here’s the thing: it should be a decision, not a default.

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? Turn 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 making a plan to improve it—whether through small updates, strategic renovations, or simply adjusting how you use your space.

But 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” is frustrating. But the good news is, you’re not as stuck as you think. You’re just facing a decision that deserves careful thought.

You don’t have to have all the answers today. However, 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 goal isn’t to time the market perfectly. It’s to make a move that supports your life and your 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. Not to pressure you into a sale—but to give you the clarity and confidence you need to move forward in the direction that’s right for you.