Step One: Consult with a Trusted Buyer's Agent
Tell us a little bit about your plans (where you’re looking to buy and when you want to make a purchase), and we’ll connect you with top-rated buyer’s agents in your area. It takes only a few minutes, and it’s free.
Are There Property Tax Exemptions in North Carolina?
Homeowners in North Carolina may qualify for several property tax exemptions that can lower their tax bill. Property tax exemptions in North Carolina can vary by county. Statewide, seniors and people with disabilities who earn less than $37,900 per year can qualify for a property tax exemption of up to $25,000 or 50%, whichever is greater.
When Are North Carolina Property Taxes Due?
North Carolina property taxes are generally due annually, on September 1, and are considered delinquent if paid after January 5 the following year.
What Do Property Taxes Pay For in North Carolina?
Local property taxes in North Carolina pay for important local services, including:
- Public schools
- Police, fire, and EMS services
- Roads, streets, and traffic signals
- Parks, libraries, and community centers
- City and county government operations
- Infrastructure like water, sewer, and trash services
- Repayment of local bond projects (such as transit and school improvements)
Yes, You Can Buy Before You Sell. Why Move Twice?
Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.
What Does It Cost to Buy a Home in North Carolina?
How Much House Can You Afford?
Affordability in North Carolina depends on your income, debt, credit score, and mortgage rate. With a median household income of around $70,804 in the Tar Heel State, a buyer might afford a home of around $275,000 using standard debt-to-income guidelines. However, with the North Carolina median home price exceeding $380,000, many buyers need dual incomes or additional savings to qualify.
Use HomeLight’s Home Affordability Calculator to estimate your budget based on your income, debts, and current rates.
What Down Payment Will You Need in North Carolina?
According to Visual Capitalist, the average down payment on a house in North Carolina is 14.5%. However, down payment amounts vary widely depending on loan type and credit score. While 20% used to be the expected standard, many buyers put down between 5% and 15%, with 3% options available for FHA and some conventional first-time buyer loans.
For a $380,000 home, here’s what your down payment could look like:
- 3% down = $11,400
- 5% down = $19,000
- 10% down = $38,000
- 15% down = $57,000
- 20% down = $76,000
Try HomeLight’s Down Payment Calculator to see how different down payments affect your monthly payment and loan size.
How Much Are Closing Costs in North Carolina?
Buyers in North Carolina can expect to pay about 2% to 5% of the purchase price in closing costs. These may include:
- Loan origination and underwriting fees
- Title insurance and escrow fees
- Appraisal and inspection costs
- Prepaid property taxes and homeowners’ insurance
- Filing and recording fees
For a $380,000 home, that means estimated closing costs of $7,600 to $19,000. Use HomeLight’s Closing Costs Calculator to get a personalized estimate based on your expected North Carolina home purchase price.
How To Find a Trusted North Carolina Real Estate Agent
An experienced North Carolina agent can help you understand local tax rates, school districts, and development trends — and guide you toward neighborhoods that fit your lifestyle and budget.
HomeLight’s free Agent Match tool uses data from over 27 million transactions and thousands of verified reviews to match you with top North Carolina agents based on proven performance. Tell us a little about your buying plans and get matched today with no obligation.
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