If you locked in a mortgage rate around 3%, you’re in a great spot—at least on paper. Understandably, many homeowners in Charleston and Columbia are hesitant to let go of such a low interest rate. But the real question is: Does holding on to that rate make sense for your life today?
At The Kauffman Group, we’re helping clients across the Lowcountry and Midlands take a step back and look at the full picture—not just the interest rate.
Let’s walk through the factors to consider and a few real examples of how moving can make financial and lifestyle sense, even in today’s market.
Equity Has Changed the Game
Most homeowners who bought between 2018 and 2021 are sitting on significant equity. In some Charleston suburbs like Summerville and Goose Creek, and in areas around Columbia like Lexington and Blythewood, home values have jumped dramatically.
That equity gives you options: you could sell and use that money for a larger down payment, to pay off debt, or even to buy your next home in cash (yes, we’ve seen that happen).
Real-Life Scenarios We’re Seeing
- Growing Families: A family in West Ashley bought a 3-bedroom townhome in 2020 at a 2.9% rate. Fast forward to today: they have two kids, work from home, and need more space. They used the $120K in equity from their sale to move into a 4-bedroom single-family home in Summerville with a backyard—and the difference in lifestyle outweighed the higher rate.
- Empty Nesters: A couple in Irmo realized their 5-bedroom home was too much to maintain. Even though they had a 3.1% mortgage, they sold, downsized to a new-build ranch, and walked away with enough equity to cover the difference and simplify their lives—no stairs, no big yard, no regrets.
- Relocating for Schools: One client in Mt. Pleasant sold their home with a 3.25% rate to move into a top-rated school district in James Island. The monthly payment went up, but the school savings (no private tuition) and shorter commute made it worth every penny.
- Investors: Another client chose to rent out their home with a 3% mortgage (great cash flow) and used their equity to buy another home in Columbia—leveraging both properties to build long-term wealth.
Should You Hold, Rent, or Sell?
Holding on to your current home might be the right move—but don’t let the fear of a higher rate be the only reason you stay. There are creative financing options, rate buydowns, and strategies to make your next purchase work.
And if your home no longer fits your life, that 3% rate may be keeping you from opportunities that matter more than a monthly number.
Let’s Run the Numbers—Together
At The Kauffman Group, we don’t just sell homes—we help you make smart decisions based on your unique situation. If you’re wondering whether to stay or go, let’s connect and run the numbers. No pressure. Just honest insight, real math, and a plan that works for you.
Serving Charleston, Columbia, and everywhere in between—because your next chapter deserves the right foundation.
