Effective age of a building refers to its age as indicated by its ___________.

The effective age of a building is primarily determined by its appearance, which provides a qualitative assessment of its condition and usability in relation to the current market. This concept reflects how the building's visual features, maintenance, and overall aesthetic contribute to its perceived value. If a building looks well-maintained, even if it is physically older, it may have a younger effective age in the eyes of potential buyers or appraisers. This understanding helps appraisers align their evaluations with the current state of the property, rather than just relying on the chronological age.

While physical condition does play a role in assessing effective age, it is not solely dependent on that; effective age encompasses broader aspects, including renovations and upgrades that may enhance a building's general appearance. Market value and depreciation rate are influenced by many other factors beyond appearance, such as location and market trends, making them less directly related to the concept of effective age.