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Chasing Windmills : Functional Obsolescence
Dena Stevens povides not just food for thought with this post but a whole meal !
During a recent conversation with another agent and appraiser we got into the ever-so-common discussion of what is the right way to build an energy efficient, sustainable, environmentally friendly house. For the most part he and I agreed on every point. This conversation took several hours but was a great way to exchange ideas and hopefully build our respective businesses.
Many people today are asking builders to build their new construction homes with the newest, biggest, most modern gizmos. Whether it's photo voltaic, hot water systems, wind turbines or anything else that has bells or whistles. But is the home owner chasing wind mills?
 
Functional Obsolescence is the impairment of the usefulness of a device or equipment due to a design defect, or due to it's inability to be upgraded or modified to serve the user's current needs.


Installers of Photo Voltaic systems are advising home owners to replace their roofs prior to the PV installation. (If roof mounted) The average PV system has a warranty of between 10 and 25 years modified or discounted every year and the warranty or average life ... more

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