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Effective Age

Definition of "Effective age"

Andy Hernandez
  Wintech Real Estate

How old and item is, such as a home, based on its condition. This differs from chronological age which is the
age of the items from its acquisition date. The effective age will be older if the home has not been properly maintained.
For example, an office building might be 10 years old, buy effectively it is 15 years old because upkeep and repairs have not been made.

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