I am hoping to buy a new house and have to pay stamp duty on the value of the site (new home >125m^2). the problem is that the builders/estate agent have, as far as I can tell, put a very high value on the site.
I am moving within the same town and the new site is only slightly larger than my current one. My current site is valued at 150K but the new site is valued at 390K!!! The site is not double the size of my current one and the location is not that much better. What really brings it home is if you calculate the value of the building (home value - value of site). The new house which is 50% larger, apparently cost 10K less to build, based on the valuation figures!!!!!
Is there anything that can be done about this??
I am moving within the same town and the new site is only slightly larger than my current one. My current site is valued at 150K but the new site is valued at 390K!!! The site is not double the size of my current one and the location is not that much better. What really brings it home is if you calculate the value of the building (home value - value of site). The new house which is 50% larger, apparently cost 10K less to build, based on the valuation figures!!!!!
Is there anything that can be done about this??