I have a job offer in a different city. I currently own a condo that I may return to but that would be really nice to have as a hub for returning to visit family as well as I have a family member who after a divorce stays at my condo to visit her child.
I have a loan on the place for <3 percent interest and it's not super expensive (mortgage 560 + 130 condo feeds monthly, 120 gas/electric)
Would it be silly of me to keep it for a few years mostly unused and consider it an investment? I expect to be able to sell it for more or equivalent value at some point.
I plan on renting in the new location.
How much should I consider leaving the condo vacant as costing me? 120 a month in lost costs? Or should I consider paying for principal on the mortgage as an additional cost?
It seems to me like people do this for vacation homes. What, if anything, should I consider when making this decision? I've also been told it's a sellers market and now might be a great time to sell.
On an emotional level I think I would like to keep it vacant for personal use. But I would like to know just how much I am paying for this benefit.