You love your mortgage rate. You may not love the house anymore. Compare a few realistic next-chapter scenarios before deciding your low rate means you're stuck.
Planning tool only. Not a home valuation, appraisal, loan quote or financial recommendation.
For Chicagoland homeowners with a very good mortgage and a very real housing dilemma
Have a 3% Mortgage But Want to Move?
You're not imagining the dilemma. A low mortgage rate can make moving feel financially impossible, even when your current house no longer fits your life.
But comparing your old mortgage rate with a new one doesn't tell the whole story.
Your equity, next-home price, property taxes, maintenance costs, down payment and even the possibility of keeping your current home can completely change the equation.
Use the calculator below to compare a few possible next chapters. No email required to use it. No "free home valuation" bait-and-switch. Just run the numbers and see what you learn.
Before comparing staying, moving, downsizing, or keeping your current home, it helps to know what you may actually be working with. If you are not sure what your home could realistically sell for, start with my Real-World Home Value Check.
Choose the scenario you want to test
CURRENT HOME Your current home
Start with what staying actually costs today.
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Enter an amount in US dollars.
$
Enter an amount in US dollars.
$
Enter the monthly amount in US dollars.
Monthly ownership costs
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Enter the monthly amount in US dollars.
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Enter the monthly amount in US dollars.
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Enter the monthly amount in US dollars.
If you sold
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Editable assumption. Enter a percentage.
Actual selling expenses vary. I can replace this assumption with a realistic net sheet for your specific home.
If this became a rental
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Enter the monthly amount in US dollars.
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Planning assumption. Enter a percentage.
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Enter the monthly amount in US dollars.
Rental cash flow here is intentionally simple. It does not model income taxes, depreciation, capital gains, local licensing, major capital replacements or the opportunity cost of your equity.
If you stayed and renovated
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Enter an amount in US dollars.
This converts the renovation budget into a simple monthly equivalent for comparison. It is not a financing payment and does not assume how the project would be funded.
NEXT HOME Your next chapter
Model the home you would actually want to buy.
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Enter an amount in US dollars.
$
Adjust this amount. Enter an amount in US dollars.
%
You choose the assumption. Enter a percentage.
Estimated next-home monthly costs
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Enter the monthly amount in US dollars.
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Enter the monthly amount in US dollars.
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Enter the monthly amount in US dollars.
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Enter the monthly amount in US dollars.
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Enter the monthly amount in US dollars.
RENOVATE Make this house work
In this scenario, the "next chapter" is staying and investing in the home you already own.
The comparison below treats your renovation budget as a monthly equivalent across your chosen planning horizon. It does not assume a loan, interest rate or tax treatment.
What would the project solve?
Accessibility
Too little space
Outdated kitchen/baths
Home office
First-floor living
Deferred maintenance
Your Sell + Buy snapshot
Planning estimates based on the numbers above. Change anything and the comparison updates instantly.
Estimated equity
$0
Estimated sale proceeds
$0
Next mortgage
$0
Monthly difference
$0
CURRENT HOME Staying put
NEXT HOME Moving
The question that matters
What would you get for the difference?
What does the "better" option actually give you?
A spreadsheet can price housing. It cannot price your Saturday mornings, your knees, your commute or being closer to the people you love.
Less maintenance
Fewer stairs
Better accessibility
Lower taxes
Better location
Closer to family
More walkability
More travel freedom
Right-sized space
A home that fits now
Common questions
Low Mortgage Rate, Big Life Change: What Should You Actually Consider?
Does it ever make sense to give up a 3% mortgage?
Yes. A low mortgage rate is valuable, but it is only one part of your total housing cost. Substantial equity, downsizing, lower property taxes, lower maintenance costs or relocating to a less expensive market can sometimes offset a higher borrowing rate.
Should I keep my current house as a rental instead of selling?
Sometimes, but positive cash flow alone does not automatically make it a good investment. You also need to consider vacancy, repairs, management, taxes, insurance, capital expenses and how much equity remains tied up in the property.
Can I buy another house before selling mine?
Depending on your financial position and financing options, potentially. A Realtor and lender can help evaluate purchase-first strategies and whether they make sense for your situation.
What if the calculator says staying is cheaper?
Then staying may genuinely be the better choice. The purpose of this calculator is not to convince you to sell. It is to help you understand what moving would actually cost and whether the lifestyle change is worth it.
How accurate is this calculator?
It is a planning tool, not an appraisal or mortgage quote. A more precise analysis requires your actual property value, mortgage balance, likely selling expenses, target purchase and financing terms.
Ready for the real-world version?
Want to replace the estimates with real numbers?
I'll help you figure out what your current home could realistically sell for, what you might actually net, and what a few different next-home scenarios could look like.
No obligation to sell. "Stay exactly where you are" is an acceptable answer.
Important: This calculator is for general educational and planning purposes only. Results are estimates based solely on information and assumptions entered by the user. It is not an appraisal, comparative market analysis, offer to lend, mortgage quote, loan estimate, tax advice, legal advice, investment advice or guarantee of costs, proceeds, approval, rate, rent or payment. Property taxes, insurance, HOA charges, maintenance, mortgage insurance, closing costs, rental expenses and other costs can change and may differ materially from estimates. Interest-rate inputs are illustrative assumptions selected by the user and are not rates offered by Laurie Christofano or RE/MAX Elevated. Consult an appropriately licensed mortgage professional for financing terms and tax/legal professionals when applicable.
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