overimprovement

overimprovement

Erecting improvements at prices that are out of proportion to the land value or to the area. Each market will have its own rules of thumb regarding ideal ratios of land cost to improvement construction costs.

References in periodicals archive ?
2], indicating that the overimprovement in mortality rates of annuitants decreases over time.
Or because the kitchen may represent an overimprovement (superadequacy), functional obsolescence should be considered.
Even homeowners who benefited from a runup in house prices can still regret overimprovement.
The term "discretionary" refers to lavish landscaping, steel I beams as floor joists in residential construction, and other cases of extra or overimprovement.