If you’ve got a 3% mortgage rate, you’re not alone in feeling glued to it. I’ve had countless conversations with clients who say, “Sabrina, why on earth would I give that up?”
I hear you. That rate feels like a golden ticket. But here’s the thing, most people don’t move because of interest rates. They move because their life is changing.
So instead of asking, “Why would I move?” let’s shift the question to something more insightful:
“What are the chances I’ll still be in this house five years from now?”
Take a moment to imagine the next phase of your life.
Are you planning to grow your family?
- Will your youngest head off to college soon?
- Is that dream of downsizing or retiring around the corner?
- Or are you simply feeling cramped, or ready for a lifestyle shift?
If you’re 100% happy where you are and your life isn’t changing, holding onto that 3% rate might be the right call. But if there’s even a whisper of a move in your future, now is the time to start thinking through the bigger picture, because waiting could cost you.
What the Experts Are Saying About Home Prices
Fannie Mae surveys over 100 housing experts each quarter, and the consensus is that home prices will continue to rise steadily through at least 2029.
No, we’re not talking about another explosive spike like we saw in recent years. But even moderate growth adds up, especially in our competitive local market.
Let’s break it down:
If you think your next home might be around $400,000 and you wait five years, it could cost you almost $80,000 more based on current projections. That’s a big number, and one I walk my clients through all the time using real data tailored to their goals.
What About Interest Rates?
Another thing I hear often is, “I’m waiting for rates to drop back to 3%.” I get it, but experts across the board agree that that’s not happening anytime soon. Rates may soften a little, but not dramatically.
So while clinging to that 3% rate may feel like a win, it can actually cost you more if it keeps you stuck in a home that no longer fits your life, or your future goals.
Bottom Line
Look, I’m not here to pressure anyone into moving. My role is to help you make the best decision, not just the most emotional one.
So here’s my advice: If there’s even a chance a move is in your future, whether it’s next year or five years down the line, let’s talk now. I can run the numbers with you and help you weigh today’s affordability against tomorrow’s prices, so you can move when the time is right for you.
Want to see how these numbers play out at a different price point? Reach out. Let’s make sure your next move is a smart one, whenever that may be.
