A Straightforward Home Buyer's Guide: What to Know Before You Buy

Let's cut through the fluff. After 24 years in real estate across North Carolina and Virginia, we've seen first-time buyers make the same mistakes over and over again. This guide won't sugarcoat anything: we're going to tell you exactly what you need to know before you buy your first home.

At Fritz Realty LLC, we believe in straight talk. No confusing jargon, no hidden surprises, and definitely no pushing you toward a house you can't afford. We've helped military families, first-time buyers, and investors navigate this process, and we know what works.

Get Your Money Right First (This Isn't Negotiable)

Before you even think about looking at houses, you need to understand your financial picture. Not the fantasy version: the real one.

Start with your budget. Here's what most people forget: your monthly payment isn't just principal and interest. Add property taxes, homeowners insurance, HOA fees (if applicable), and maintenance costs. In North Carolina, property taxes vary wildly by county: Wake County runs about 0.87% while some rural areas are much lower. Virginia's rates can hit 1.2% in places like Fairfax County.

Get preapproved for a mortgage before you start house hunting. Not pre-qualified: preapproved. There's a difference, and sellers know it. You'll need tax returns from the past two years, recent pay stubs, bank statements, and your Social Security number.

For our military families: VA loans are incredible tools, but they're not magic. You still need good credit (we recommend 620+) and stable income. The big advantage? No down payment required and no private mortgage insurance. We specialize in VA loans and can walk you through the entire process.

What to Actually Look For in a Home

Forget the granite countertops for a minute. Here's what matters.

Location trumps everything. You can change almost anything about a house except where it sits. In North Carolina, pay attention to flood zones: especially if you're looking near the coast or in areas prone to hurricanes. Virginia buyers need to consider commute times seriously, particularly around the DC metro area where traffic can turn a 20-minute drive into an hour-long nightmare.

Make a must-have list. Three bedrooms? Two full baths? Garage? Stick to it. We've seen too many buyers fall in love with a house that doesn't meet their basic needs because it has a pretty kitchen.

Check these systems during showings:

• Roof condition (look for missing shingles, sagging)

• HVAC age and efficiency (older systems mean higher utility bills)

• Plumbing pressure and hot water recovery

• Electrical panel (older homes might need updates)

• Foundation and basement (any cracks, water damage, or weird smells)

Ask about utilities. Is it natural gas, propane, or all-electric? Get the average monthly costs. A beautiful home loses its charm when you're paying $300+ electric bills in summer.

The Inspection and Appraisal Reality Check

Once your offer is accepted, you'll schedule a home inspection. This typically costs $400-600 in our markets, and it's worth every penny.

Here's the truth about inspections: they're going to find problems. Every house has issues. The question is whether they're deal-breakers or negotiation points. Major structural problems, electrical hazards, or HVAC systems on their last legs: these are worth walking away from or demanding significant credits.

Minor issues like loose handrails, caulking gaps, or cosmetic problems? Don't nitpick over these unless there are dozens of them.

The appraisal protects your lender, not you. If the home appraises for less than your offer price, you'll need to negotiate with the seller, bring cash to cover the difference, or walk away. In hot markets, this happens more often than you'd think.

Documentation and Timeline (Stay Organized or Get Overwhelmed)

Create a dedicated email folder for all home-buying documents. You're going to have a lot of paperwork, and losing something can delay your closing.

Timeline after offer acceptance:

• Home inspection: Schedule within 3-5 days

• Appraisal: Ordered by lender immediately

• Homeowners insurance: Get quotes 3 weeks before closing

• Final walkthrough: 24-48 hours before closing

• Closing: Typically 30-45 days from offer acceptance

Insurance shopping tip: Don't just go with the first quote. Rates vary significantly between companies, especially in North Carolina where hurricane and wind coverage affect coastal properties differently than inland homes.

After You Buy: Welcome to Homeownership Reality

Congratulations: now the real work begins.

Set up your emergency fund immediately. Experts recommend 1-3% of your home's value annually for maintenance and repairs. That $300,000 house? Budget $3,000-9,000 per year. Sounds like a lot? Wait until your HVAC system dies on the hottest day of summer.

Create a maintenance schedule:

• Monthly: Change HVAC filters, test smoke detectors

• Quarterly: Clean gutters, check caulking

• Annually: Service HVAC, clean dryer vents, inspect roof

Learn where your main water shutoff valve is located. When a pipe bursts at 2 AM, you'll thank us.

Common First-Time Buyer Mistakes (Learn from Others' Pain)

Mistake #1: Falling in love with the first house you see. We get it: it's exciting. But don't let emotions override logic.

Mistake #2: Skipping the inspection to make your offer more competitive. This is like buying a car without looking under the hood.

Mistake #3: Making major purchases before closing. That new living room set can wait until after you get your keys.

Mistake #4: Not shopping around for mortgage rates. A quarter-point difference on a $250,000 loan costs you about $13,000 over 30 years.

Mistake #5: Assuming the seller will fix everything. They won't, and they don't have to.

Why Fritz Realty Does Things Differently

We've been in this business for over two decades because we tell people the truth, even when it's not what they want to hear. If a house is overpriced, we'll tell you. If a neighborhood has issues, you'll know before you write an offer.

Our approach is simple: we work for you, not the sale. We've walked away from deals that weren't right for our clients, and we'll do the same for you.

For military families: We understand PCS moves, VA loan requirements, and the unique challenges of military life. We'll work around deployments, TDY schedules, and tight timelines.

For first-time buyers: We'll explain everything in plain English. No industry jargon, no rushing through documents, no pressure to decide quickly.

For investors: We know what makes properties cash-flow positive in our markets and can help you run the numbers honestly.

Market-Specific Considerations for NC and VA

North Carolina buyers: Understand flood insurance requirements. If you're buying in a flood zone, factor this into your budget: it can add $500-2,000+ annually. Also, North Carolina is a caveat emptor (buyer beware) state, meaning sellers aren't required to disclose property defects unless specifically asked.

Virginia buyers: Property taxes can vary dramatically by locality. Fairfax County residential rates are nearly double what you'll pay in rural Virginia counties. If you're buying near military bases, consider resale value and rental potential for future PCS moves.

Both states require various property disclosures, but the specifics differ. We'll walk you through what sellers must disclose and what questions you should ask.

The Bottom Line

Buying your first home is simultaneously one of the most exciting and stressful experiences you'll have. The process is complex, the stakes are high, and there's a lot of money involved.

You need someone in your corner who will shoot straight with you. Someone who's been through this thousands of times and can spot problems before they become your problems.

That's what we do at Fritz Realty LLC. We're not here to sell you a house: we're here to help you buy the right one.

Ready to start the process? Contact us for a no-pressure conversation about your goals and timeline. We'll tell you exactly where you stand and what steps you need to take next.

Because at the end of the day, this isn't just about buying property( it's about finding your home.)