What is a common consequence for properties in close proximity to landfills?

Properties located near landfills often experience external obsolescence, which refers to a loss in property value due to external factors that are typically beyond the control of the property owner. This decline in value often stems from negative perceptions associated with environmental issues, odors, noise, and traffic that landfills can create.

In this context, external obsolescence highlights how the location of a property can diminish its desirability and affect its market value. Because the proximity to a landfill can lead to broader community concerns and may deter potential buyers, properties in such areas frequently sell for less than comparable properties further from such nuisances.

Curable obsolescence pertains to issues that can be fixed or improved at a reasonable cost, while functional obsolescence refers to properties that are outdated or lacking modern features, which are not primarily dependent on external influences. Increased property values in this scenario would not typically apply, as proximity to a landfill generally detracts from property desirability rather than enhancing it.