If you’re one of the lucky homeowners sitting on a 3% mortgage rate, you might be asking yourself: Why would I ever move? It’s a fair question—especially with today’s higher interest rates making the idea of selling and buying again seem daunting. But here’s the thing: people don’t move because of mortgage rates. They move because life changes.
Life Happens—And So Does Moving
A mortgage rate is just one piece of the puzzle when deciding whether to move. The real question is: Does your current home still fit your life?
- Growing Family? Maybe you need more space for kids, pets, or even a home office.
- Empty Nest? Perhaps your home feels too big now, and downsizing makes sense.
- Job Change? A new opportunity might mean relocating to a different part of Phoenix—or beyond.
- Lifestyle Shift? Maybe you want to be closer to vibrant city life, or you’re craving a quieter desert retreat.
Holding onto a low mortgage rate is smart—until it starts holding you back. If your home no longer serves your needs, it might be time to rethink your options.
The Cost of Waiting
Many homeowners hesitate to move because they fear losing their low rate. But waiting too long can come with its own costs:
- Home Prices Are Rising: Experts predict home values will continue to climb, meaning the longer you wait, the more expensive your next home could be.
- Equity Gains: If you’ve built up significant equity, you might be in a strong position to make a move without taking on a huge new mortgage.
- Interest Rates May Not Drop Much: While rates could come down slightly, they’re unlikely to return to 3% anytime soon.
Finding the Right Move for You
If you’re considering a move but hesitant about your mortgage rate, let’s talk strategy. There are creative ways to make a transition work, whether it’s buying a smaller home with cash, negotiating seller concessions, or exploring financing options that minimize the impact of higher rates.
At the end of the day, your home should support your life—not the other way around. If you’re feeling stuck, let’s chat about your options. Phoenix has incredible opportunities, and I’d love to help you find the perfect fit for your next chapter.
