functional obsolescence

Definitions

Construction

  • An inadequacy caused by outmoded design, dated construction materials or over- or under-sized areas, all of which cause excessive operating costs.
  • In appraisal, the decline in the value of property due to changes in the style, design, technology, floor plan, and so on, of competing property.
http://www.dictionarycentral.com/definition/functional-obsolescence.html