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Functional Obsolescence

How Functional Obsolescence in Real Estate Impact Home Values

How Functional Obsolescence in Real Estate Impact Home Values

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Functional obsolescence is a concept in real estate that refers to a property’s inability to adequately perform the functions for which it was designed. Functional obsolescence can be caused by changes in technology, demographics, or market conditions. It can also be the result of poor planning or design decisions. When considering purchasing a property, it’s […]

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Functional Obsolescence

Things You Should Know About Functional Obsolescence in Real Estate

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Functional obsolescence is a term used in the real estate industry to describe a decrease in the market value of a property that is caused by a decrease in its functional ability. Functional ability can refer to anything from the physical condition of the property to its usability or livability. There are a few different

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