Thinking about making Wake County your new home? That's awesome! Relocating to a new area is always an adventure, but it can also feel a bit overwhelming at times. Fortunately, we are familiar with relocating buyers and have seen large influxes from the northeast and even from California in recent years. There's so much to learn about a new place, from the best neighborhoods to the ins and outs of the school system. We're here to guide you every step of the way, offering expert advice and a friendly face to make the process as stress-free as possible. Let's dive into some common surprises and hidden costs that come with moving to Wake County, so you can be prepared and excited for your new adventure!
One of the biggest surprises for those relocating to North Carolina is the unique way we handle due diligence and earnest money. In many states, earnest money is the primary way buyers show their seriousness about a property.
But in NC, we have a separate due diligence fee paid directly to the seller. This fee compensates the seller for taking their home off the market while you do your inspections and research. The due diligence period in NC is also typically shorter than in other states, so you'll need to be prepared to move quickly! While the due diligence fee is non-refundable (unless the seller terminates the contract), the earnest money deposit is refundable if you back out during the due diligence period. It's important to understand these differences to avoid any surprises and make informed decisions during the buying process.
For many, especially those with school-age children, the biggest surprise is the structure of the Wake County School System. It operates county-wide; unlike the district systems many are accustomed to. Wake County School District also includes some schools that feature year-round schooling, which is new for many people. Understanding the ins and outs of Wake County schools can be a bit tricky for newcomers. We're here to help you navigate the district, schedules, and different school options, so you can feel confident in your decisions. “We have some great resources we provide,” says Diane Florio, “including web links to direct them and a company that focuses exclusively on assisting people on how to best navigate the school systems here.”
The Real Estate Market Doesn’t Go Stagnant
Another thing that surprises many is the dynamic nature of the real estate market. Wake County's market is hot, with high demand and low inventory. This means buyers often need to be prepared for a competitive environment and may potentially pay over asking price for homes in the most desirable locations. It's essential to stay informed about current market trends and be ready to act quickly when you find the right property. In our 2024 wrap-up post, we mentioned that “Wake County has experienced a 4.1% increase in home prices year-over-year, demonstrating the continued desirability of this thriving area.” Building equity in a Wake County home is not difficult. It is a thriving, growing area.
Proximity Can Mean a Slightly Higher Tax Rate (But Nothing Compared to NY Property Taxes)
Property taxes in North Carolina are generally lower than in many other states, but there can be variations depending on the specific location within Wake County.
In Wake County, the average effective property tax rate is 0.96%. This means that for every $100,000 of assessed home value, the annual property tax bill would be $960. There are nearby counties (Durham, Orange, Johnston, and Chatham, for instance) that have lower tax rates, but you may find it’s worth paying slightly more to have the amenities and conveniences of Wake County. The median annual property tax payment: $2,908. This is higher than at the state and national level, but much lower than in many cities of similar size, especially in states like New York, New Jersey, and California.
It’s also worth mentioning that the state sales tax rate is 7.5%. This will be higher than some are used to, but if you are relocating from New York, California, or even Tennessee, you’ll find that you appreciate that number.
NC has a high density of charter schools: North Carolina is definitely a leader in the charter school movement. It has one of the highest numbers of charter schools per capita in the US. While exact rankings fluctuate, NC consistently ranks in the top 10 states for the number of charter schools. In the 2023-2024 school year, NC had over 200 charter schools serving around 130,000 students.
Why this matters to relocating families: This means families in NC have more public-school options beyond their assigned district school. This can be a big draw for those seeking specialized education, smaller class sizes, or alternative teaching methods. Wake County has a significant number of charter schools, with options ranging from arts-focused schools to STEM-focused schools and college-prep academies.
As we briefly mentioned above, NC has a growing number of year-round schools: North Carolina is seeing a steady increase in year-round schools. These schools typically operate on a "balanced calendar" with shorter summer breaks and more frequent, shorter breaks throughout the year. Wake County does have a few year-round schools, though they are not as prevalent as traditional calendar schools. Year-round schooling can offer benefits like reduced learning loss over the summer and more frequent opportunities for remediation. However, it can also disrupt traditional summer plans and childcare arrangements.
Be Prepared - Your Healthcare Matters: Costs & Considerations
While there are still rural areas of North Carolina that may have limited healthcare options, Wake County boasts highly ranked and rated hospitals and providers. Unfortunately, though, North Carolina has a higher rate of uninsured residents compared to the national average. This is important to discuss if you are transitioning from a state with better insurance coverage or relying on employer-provided insurance that might change with a new job.
North Carolina's healthcare costs tend to be higher than the national average, particularly for hospital care and prescription drugs. This is a crucial factor for those on a fixed income or with health conditions requiring frequent medical attention.
Our health insurance premiums, in NC, are also generally higher than the national average, especially for those purchasing insurance on the individual market. Those relocating from states like New York and New Jersey, and even California in many cases, will find that North Carolina’s average health insurance premiums tend to be lower.
For more information about the North Carolina healthcare system, we recommend that you check out https://www.nchealthinfo.org/, where you can find information about insurance, finding providers, getting financial assistance, and more. Currently, you can also find health insurance coverage information and quotes at https://www.healthcare.gov/.
Finding Providers
We typically advise clients to establish a relationship with a primary care physician as soon as possible after their move. They can use online resources like physician finders and health system websites to locate providers in their area. As mentioned above, https://www.healthcare.gov/ can be a good resource as well.
Many utilize online tools like Facebook Community pages to seek physician recommendations. Others may want to ask their current providers for recommendations in the area, and work with their healthcare benefits provider to locate in– and out-of-network providers. We can also share some of our personal experiences with doctors, dentists and eye care providers. We often offer recommendations to people relocating to the area.
For those with specific health conditions, we recommend asking your current providers if they have connections or recommendations in NC. Consulting your insurance company, looking for online review, and connecting with local support groups or online communities can also be helpful.
While Wake County has a growing public transportation system (GoRaleigh, GoCary, GoTriangle), it's not as extensive as what people might be used to in larger cities like New York or Chicago. This is important to highlight, especially for those relying on public transit. Please be sure to check out the public transit websites to learn routes and schedules.
Registering Your Vehicle
There is, of course, an annual fee associated with registering a vehicle in Wake County. The based fee is $38.75, plus county property taxes based on vehicle value. The DMV does provide a vehicle tax estimator online tool, which can be helpful for those trying to understand the fees when relocating. There are some states who do not require it, but North Carolina residents must register their vehicles and pay vehicle taxes every year. A reminder will be mailed to your residence, and you must have your vehicle inspected by a certified garage before paying the registration. You can pay by mail, in person, or online.
In order to register the vehicle in NC for the first time, you will need a North Carolina driver's license, proof of car insurance showing coverage in NC, the vehicle title (or lenders information if title is held by the lien holder), a completed Title Application (MVR-1) for and a Declaration of Eligible Risk (MVR-6) form. If your vehicle is less than 10 years old, you'll need to complete an odometer disclosure statement (MVR-180). Expect to pay the associated registration fee and property taxes at the time of registration.
Driver’s License Application
Because you will need an active NC driver's license in order to register your vehicle, it is worth noting that you will need the following in order to obtain your license: proof of Identity and date of birth (i.e official birth certificate, valid unexpired U.S. passport, or valid unexpired REAL ID license or ID card), Proof of social security number (i.e. your Social Security card, a W-2 form, or a pay stub with your full SSN), two proofs of NC residency (i.e. utility bill, bank statement, lease agreement, mortgage statement, voter registration card, or North Carolina registration card or title. Please note, any proof supplied must show your name and your NC address). Lastly, if you've changed your name or are not a U.S. citizen, you'll need additional documents like a marriage certificate or permanent resident card.
Vehicle Insurance
The good news? If you are moving from a state like NY, NJ, or CA, you will likely consider North Carolina’s car insurance rates very affordable. Liability coverage is mandatory, and custom policy quotes are available, just as in other states. It shouldn’t come as any surprise that the factors affecting the rates including driving history, age, location, vehicle type, and possibly even your credit score.
Childcare in North Carolina
Childcare can be expensive and difficult to find in Wake County, particularly for infants and toddlers. We do advise families to research childcare options early in their relocation process.
The NC Department of Child Development and Early Education has a web resource for those seeking childcare, which can be helpful when trying to line something up before the move. It may also be helpful to check out the resources on the Wake Local Interagency Coordinating Council website found here.
Wake County Utilities
Utilities (electricity, gas, water, internet) can vary significantly in cost depending on the provider and location within Wake County. We always do our best to provide information about the main utility companies and average costs for buyers, and more precise information once they have specific properties in mind.
Libraries & Community Centers
Wake County has an excellent public library system with numerous branches offering various programs and services. The Wake County website can help you find the library closes to you, and will provide some information about current and upcoming events as well. Additionally, our local community centers offer recreational activities, classes, and events for all ages. RaleighNC.org provides more information about the available centers and their locations.
Parks and Recreation
Wake County boasts numerous parks, greenways, and recreational facilities, providing ample opportunities for outdoor activities. You can look forward to events, particularly around the holiday season, at some of our largest parks. In addition to the usual hiking trails and park benches, you can also find carousels, great views of the city skyline, boardwalks, and water activities.
Depending on what town/city you are headed to here in Wake County, DNA Realty can assist with locating storage sheds and facilities near to where you will be living. Also, companies like PODS and PAK RAT can store your items until you are ready for their delivery to your new residence. If you have items like RV's, boats, ATV's or other such possessions, you will want to be aware of any community restrictions enforced by a Homeowners’ Association or community covenants, on how those items can be stored. We always advise our clients to be sure they have read and are familiar with the HOA and community covenant documents prior to making an offer on the home, so they are fully aware of the rules and regulations.
Moving is by far one of the more stressful things people do. “Having your dishes and plates and items packed away, and then having to locate them first while trying to get the family or yourself situated is the last thing anyone wants to do,” says Diane, “Thankfully here in Wake County we have many eateries that deliver as well as services such as DoorDash, UberEATS and Shipt to make your first days smoother!” DNA Realty provides relocating clients a list of local eateries and options to make their move easier and more enjoyable. Welcome home!
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