functional obsolescence
Definition
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.
Use this term in a sentence
“ You should always try to avoid functional obsolescence but if you find yourself in it then you must adapt quickly. ”
“ Although it was charming from the outside, the house had no kitchen or dining room and was a prime example of functional obsolescence. ”
“ Mold is a huge problem for older houses in any market, if it is not detected and resolved early enough, the owner will realize functional obsolescence due to its damaging nature. ”
