Understanding Stamp Duty
Building a new home can be an expensive process. With home insurance, conveyancing or solicitor fees, and mortgage insurance, costs start to add up quickly. One of the largest payments you’ll make during this process is stamp duty. Although the added cost is substantial, there’s no avoiding it unfortunately, since every real estate purchase accrues a stamp duty cost. But what is it? We’ve got a quick summary of what stamp duty is and why you need to pay it.