Buying an incall flat [was: Incalls]

[Leilaa]

Wasn't sure what to call this topic but I've been thinking long and hard recently of buying an incall apartment. Rather than paying rent I can pay my own mortgage and apartments are pretty cheap to buy where I am (50-60k).

Have any of you ladies bought your own apartments and would you advise it? Would you save up till u can buy outright or get a mortgage  (It's just so hard to get a mortgage in the current climate).

[chocoholicgirl]

Wow impressive for anyone to buy a property outright! That's quite some cash to save up but perhaps you could put down a large deposit and get a smaller mortgage for the rest rather than wait and save up completely? I mean if you already have the cash for a property you must already be doing well (assuming you have earned it as opposed to an inheritance or something else lol)

I personally would buy as opposed to rent, pay my own mortgage rather than someone else's but it's horses for courses. Then of course if you change career further down the line you can rent it out. Lots of options and someone that actually knows about this might come along and advise you better than me haha!

xx CG

[English Green]

It is great to buy no matter what the reason as long term property is an investment. But i say this lets say you bought it and for some reason it was not busy enough or neighbours found out caused you problems and you could not work there without trouble. Would you still be glad you bought it as an investment and you could rent it to a non sex worker.

So that is the worst case scenario would you still buy the flat?

[amy]

I bought my flat outright just over three years ago and it was the best thing I ever did workwise; I saved virtually all of what I needed, took a smallish bank loan for the rest and then transferred most of that to an interest free money transfer card by drawing what I needed to pay the loan off. I have a tiny amount to pay off the card, but since it's still interest free until May it hasn't cost me a penny extra .

It's risky - it's extremely unlikely that you'll find a freehold flat which means you'll be in breach of your lease by working from it, and if you have any problems it's not as simple as just giving notice and bogging off. It's vital that you find the right place and don't just pick one because it's nice and within your budget, but if you choose well you'll save a fortune and my incall overheads don't even amount to a one hour booking a week.

The most important thing to know would be that you will need far more money than you think you will; solicitors fees and admin stuff obviously, but don't underestimate the cost of furnishing an empty flat even just enough to make it workable. Mine also needed some plastering and minor repairs, plus I had to replace the boiler because it was ancient and the hot water wasn't reliable. I did the decorating myself and ordered virtually all the furniture from IKEA but I still had to buy a washerdryer, kitchen appliances and towels/linen as well as all the small stuff like toiletries, crockery, lamps, basic food for the cupboards, curtains, waste bins, mirrors - the list literally goes on for ever. And it still isn't finished .

Also know that it takes longer and involves more frustration and pissing about than you can ever plan for - I lost two weeks I could have been working because the silly twat I bought mine from forgot to book a day off work to move (they were supposed to have vacated a month earlier - this sort of thing happens all the time). The whole process from me putting an offer in to actually getting the keys took three and a half months, and given that I didn't have to get the money from anywhere I was pretty bloody quick.

[Leilaa]

I bought my flat outright just over three years ago and it was the best thing I ever did workwise; I saved virtually all of what I needed, took a smallish bank loan for the rest and then transferred most of that to an interest free money transfer card by drawing what I needed to pay the loan off. I have a tiny amount to pay off the card, but since it's still interest free until May it hasn't cost me a penny extra .

It's risky - it's extremely unlikely that you'll find a freehold flat which means you'll be in breach of your lease by working from it, and if you have any problems it's not as simple as just giving notice and bogging off. It's vital that you find the right place and don't just pick one because it's nice and within your budget, but if you choose well you'll save a fortune and my incall overheads don't even amount to a one hour booking a week.

The most important thing to know would be that you will need far more money than you think you will; solicitors fees and admin stuff obviously, but don't underestimate the cost of furnishing an empty flat even just enough to make it workable. Mine also needed some plastering and minor repairs, plus I had to replace the boiler because it was ancient and the hot water wasn't reliable. I did the decorating myself and ordered virtually all the furniture from IKEA but I still had to buy a washerdryer, kitchen appliances and towels/linen as well as all the small stuff like toiletries, crockery, lamps, basic food for the cupboards, curtains, waste bins, mirrors - the list literally goes on for ever. And it still isn't finished .

Also know that it takes longer and involves more frustration and pissing about than you can ever plan for - I lost two weeks I could have been working because the silly twat I bought mine from forgot to book a day off work to move (they were supposed to have vacated a month earlier - this sort of thing happens all the time). The whole process from me putting an offer in to actually getting the keys took three and a half months, and given that I didn't have to get the money from anywhere I was pretty bloody quick.

Wow Amy well done.. That's some serious saving... I have enough saved for a deposit but if mortgage becomes an issue then will have to go down the serious savings route.. . Yes and your right there's loads more extras to consider but I guess given all that it's still worth it and a huge investment.

English Green I'm not high volume so fingers crossed neighbours won't be an issue but I'm looking for a good location and I suppose long term u still can rent out.

[Leilaa]

Wow impressive for anyone to buy a property outright! That's quite some cash to save up but perhaps you could put down a large deposit and get a smaller mortgage for the rest rather than wait and save up completely? I mean if you already have the cash for a property you must already be doing well (assuming you have earned it as opposed to an inheritance or something else lol)

I personally would buy as opposed to rent, pay my own mortgage rather than someone else's but it's horses for courses. Then of course if you change career further down the line you can rent it out. Lots of options and someone that actually knows about this might come along and advise you better than me haha!

xx CG

I wish I had inherited it lol I've worked my arse off in 3 jobs. I don't waste mobey or have any bad habits and saved a nice deposit.

[Lucie268]

I recently bought a flat - it's great to not be pissing money away on rent but it'll take a long time to sort out. It's bare at the moment but at least workable for me - I have a bed and a chair to keep my things in the bedroom.

[chocoholicgirl]

I wish I had inherited it lol I've worked my arse off in 3 jobs. I don't waste mobey or have any bad habits and saved a nice deposit.

That's awesome, nothing much better to spend money on than property and goes to show what can be achieved with hard work. When you think how much money people waste on shit it's crazy. A property is always a great investment especially with low mortgage costs and there's options for you to use it yourself, rental or even resale down the line. 

[Mirror]

 I top saved and with my other half bought a freehold property, however for various reasons I can't use it for many incall bookings. It's an investment across the whole of my life.

Amy's post about costs, possession time and time and money required before being ready to accept clients is pretty much my experience. It's nowhere near as simple as just paying the purchase amount, and stamp duty for a second property now starts on the 1st ? no threshold or allowance applies. There's also no second home discount where I've bought, and as such you can't claim single person's discount - that only applies on the property you say you live in, if you live alone.

[Justine]

Not quite in a position to buy outright but I managed to take on a new mortgage 6 years ago as had a sizeable chunk saved to use as a deposit and with regular lump sum payments to bring down the capital I am now mortgage free. So much less pressure now to work my butt off and earn huge amounts.  A good feeling but I earned every brick and windowframe. 

[English Green]

Wow Amy well done.. That's some serious saving... I have enough saved for a deposit but if mortgage becomes an issue then will have to go down the serious savings route.. . Yes and your right there's loads more extras to consider but I guess given all that it's still worth it and a huge investment.

English Green I'm not high volume so fingers crossed neighbours won't be an issue but I'm looking for a good location and I suppose long term u still can rent out.

Putting money in a property in my opinion is a good investment whatever the reason isi have done it several times and have not looked back. Go for it and save hard.

[English Green]

Must say it is great to hear quite a few of us have used this job to our advantage and bought property. It is so hard for anyone to save for a deposit but this job can give us a lift for things we might not have been able to do.

[Leilaa]

Must say it is great to hear quite a few of us have used this job to our advantage and bought property. It is so hard for anyone to save for a deposit but this job can give us a lift for things we might not have been able to do.

Very true English Green. One income alone isn't enough to save and live. I've used the extra income from this job to save whilst the other is to live off. Nice to know other ladies have done well though x

[Leilaa]

That's awesome, nothing much better to spend money on than property and goes to show what can be achieved with hard work. When you think how much money people waste on shit it's crazy. A property is always a great investment especially with low mortgage costs and there's options for you to use it yourself, rental or even resale down the line. 

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