A loss of value to an improvement to real estate arising from functional problems, often caused by age or poor design. For example, a bedroom that can only be entered by walking through another bedroom would be considered functional obsolescence.
Related information about functional obsolescence:
- Functional Obsolescence Definition | Investopedia
A reduction in the usefulness or desirability of an object because of an outdated design feature, usually one that cannot be easily changed. The term is ...
- Obsolescence - Wikipedia, the free encyclopedia
2.1 Technical obsolescence; 2.2 Functional obsolescence; 2.3 Planned obsolescence; 2.4 Style obsolescence; 2.5 Postponement obsolescence; 2.6 ...
- Functional Obsolescence in Real Estate
Feb 24, 2010 ... Functional obsolescence in Real Estate can be defined as a few different things but more often than not it pertains to a property not complying ...
- What is functional obsolescence? definition and meaning
Definition of functional obsolescence: Impairment of the usefulness of a device or equipment due to a design defect, or due to its inability to be upgraded or ...
- functional obsolescence - Financial Dictionary - The Free Dictionary
A loss of value from all factors within a property except for physical deterioration. This may include a poor floor plan,the lack of a garage,high ceilings that ...
- Incurable Functional Obsolescence and Sequence of Deductions
Functional obsolescence is the loss of value of the subject facility resulting from deficiencies ... Functional obsolescence can be curable or incurable. When it ...
- AccuVal | Insights | Ask an Appraiser | What is functional and ...
Functional obsolescence is defined as the impairment of functional capacity or ... Functional obsolescence can be further broken down into curable and ...
- Functional Obsolescence: Definition from Answers.com
Decline in value due to changing tastes or technical innovation. Previous: Fully Paid Policy , Fully Diluted Earnings Pe.