If you have a 3% mortgage rate, you’re probably hesitant to let that go. And even if you’ve thought about moving, this question might stop you: “Why would I give that up?”
But most people don’t move because of their mortgage rate—they move because life changes. So ask yourself: What are the chances you’ll still be in your current home five years from now?
Think about what the next few years might hold. Is your family growing? Are kids moving out? Is retirement approaching? Are you running out of space? If nothing’s changing and you love your home, staying put makes sense.
But if a move is even remotely possible, it’s worth thinking about your timeline—because even a year or two can make a big difference in what your next home will cost.
What Experts Say About Home Prices: Each quarter, Fannie Mae surveys over 100 housing experts. The consensus? Home prices are expected to rise at least through 2029 (see graph below). While not dramatic each year, these increases add up.
For example, if you’re planning to buy a $400,000 home, waiting five years could mean paying nearly $80,000 more.
If you know a move is likely in your future, it’s worth taking a closer look at your timeline. You certainly don’t have to move right now—but financially, it may make sense to explore your options before prices inch higher. While mortgage rates may come down slightly, experts agree that 3% rates aren’t coming back anytime soon.
So the real question isn’t: “Why would I move?” It’s: “When should I?” Because waiting might cost more than you think.
Bottom Line: Keeping your low rate makes sense—until it starts holding you back. If a move is even a few years away, start planning now. Connect with a knowledgeable Town & Country Realty Broker to explore your options and make a confident, well-informed decision. Call us today at 541-757-1781 in Corvallis or 541-924-5616 in Albany.
Source: Keeping Current Matters. Disclaimer: The information contained, and the opinions expressed, are not intended to be construed as investment advice. Town & Country Realty does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Town & Country Realty will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.