A commonly used classification of a building's condition and a useful fieldbook code is as follows:
(dvo): The building has no value
VERY POOR (vp):
Needs major structural
Needs minor structural improvement.
NEEDS PAINT AND REPAIRS (npr): Painting and non structural repairs are required.
NEEDS PAINT (np):
Requires painting only
Reasonable condition but will
require painting soon.
Recently painted and/or renovated
VERY GOOD (vg):
Above average maintenance and
condition. Eg well kept by the one owner.
Condition relates to curable obsolescence until it falls to the level of demolition value only. At that stage, it becomes incurable obsolescence and the building has no value. Incurability reflects the cost to cure. If substantial problems arise with the structural integrity of the building (for example with the footings), although cure is possible, its cost is too prohibitive and the owner may be better off to demolish and rebuild.