Why You Should Be Wary of Apartments with Flexi Rooms
What exactly are flexi rooms? Why are they being communicated as two-bedrooms? Why is it important to know about them? Get all the details on this video.
What is a flexi room? Good day, I'm Andrew Murray from Apartment Specialists, talking about these apartments being sold as flexi rooms.
They're being sold as flexi rooms, but really it's being communicated as a two bedroom. So why are they calling them two bedroom? The reason why is, under the current legislation, you can't build a new two bedroom apartment that's below 70 square metres and this one is 62 square metres with a den.
Now the developers want to make as much money as they can, and by doing that, means they can put more. One way of doing it is to put as many apartments as you can on a piece of land and go upwards. So, a flexi room is a very smart way of getting around the rules and getting extra value from a purchaser, by saying it's a flexi room.
I've actually been into the showrooms where they've actually communicated to me that, yes, you can use that as a bedroom. This is where you need to really be aware, if you're looking into buying a flexi room in the future, these apartments come into what is a secondary market, I once avoided selling and buying off the owner.
These units can't be used as a two bedroom and can't be even a tentative two bedroom. They can only be a one bedroom and another room that can be used for other purposes, but not as a bedroom. So, do watch out, because the thing is they're coming out with 50 square metre apartments that are called one bedroom and flexi and they're giving us the impression that it can be used as a two bedroom. This is very much incorrect and just a very smart way of getting around the rules.
So, I hope that helps you understand what a flexi room is and that it's not actually a two bedroom. Whether you're fixing up the place now or buying it, when that's what it is, so watch out and be aware that the flexi room is not actually a two bedroom and so the values shouldn't be as high for that.
I hope that helps, cheers.