What is PPOR or Main Residence and why does it matter in home loans and property buying

Importance of PPOR in Home Loans and Property Buying PPOR, or principal place of residence, plays a crucial role in tax implications, stamp duties, and lending rates. Living in your main residence can exempt you from paying capital gains tax when selling the property. Additionally, it can affect the amount of stamp duty you need to pay, potentially reducing or eliminating it, especially for first-time home buyers. Moreover, declaring your property as your main residence can lead to more favorable lending terms, including lower interest rates and reduced lenders mortgage insurance costs. Understanding the implications of PPOR is essential for wealth generation and making informed decisions in property transactions.