Which factor is NOT typically considered under functional obsolescence?

Study for the National Valuation Exam. Utilize multiple choice questions and detailed explanations. Master your exam with ease and confidence!

The correct answer highlights that excessive crime in the area does not fall under the category of functional obsolescence. Functional obsolescence refers specifically to a defect in a property that results in a decrease in value due to the property's design, layout, or condition that is no longer desirable or efficient. Common factors that contribute to functional obsolescence include old plumbing and electrical systems, outdated building materials, and poor space layout, as these are directly related to the property's utility and functionality.

In contrast, excessive crime in the area is more associated with external factors affecting the desirability of a property rather than its functional attributes. It relates to external obsolescence, which is influenced by economic conditions, neighborhood crime rates, or overall environmental factors. These external issues can affect property values, but they do not pertain to the internal deficiencies or inefficiencies of the property itself, which is the focus of functional obsolescence. Thus, the selection of excessive crime in the area is appropriate as the factor that is not typically considered under functional obsolescence.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy