This depreciation is categorized as Functional obsolescence, incurable.
The main causes of the unavoidable functional obsolescence are outside forces over which the property owner has no control. By doing adequate study on the most recent trends and designs in real estate before committing to the investment, investors can avoid the occurrence of such obsolescence.
Functional Obsolescence Examples
Another example of functional obsolescence in the technology sector is the parade of ever-evolving cellphones and smartphone technology. New smartphones have more capabilities and features than older models, rendering them functionally useless.
There are two primary categories of functional obsolescence: curable and irreparable.
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