Many moons ago my elderly mother would take advantage of family visits and ship us off to the grocery store with a long list and explicit instructions…”no green bananas – I might not live long enough to eat them”.

Some of today’s home buyers want ” green banana real estate” even though the properties don’t meet their needs or their finances.

In short, don’t buy a home or condo that doesn’t meet your needs now and in the future:

• Cozy now might be cramped in a few years.
• Monthly payments affordable if earning capacity changes (somebody is laid off or ill)?
• Do you really want contractors in your home for the next 6 months fixing everything to your taste?
• Is the commute really worth it?
• 5 bedrooms and 4 full bathrooms might be “wanted now” but what about needs in 2 years when the twins leave for college?

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Some points to remember to avoid green bananas:

1. Get pre-approved for a mortgage.

Avoid delays once you do find a home by getting your loan pre-approved.   Pre-approval improves your negotiating position and, better yet,  you’ll know your numbers and how much to budget for monthly payment to make sure you’re house-shopping within your price range.

2. What exactly are you looking for in a home?

Be specific!  What are the non-negotiables? Are there any non-negotiables?  Where do you want to live? Are schools a priority? Commuting time? Price?  Amenities?  How much work are you willing to do after closing?  Make your wants and wishes known to your agent but be realistic about that you’re being realistic about pricing and demands.”

3. You snooze-you lose.

Reduce your stress by mentally preparing yourself to bid quickly and not “think” about it while somebody else actually submits an offer.  The number of homes for sale continues to remain at a record low number and new listings tend to sell quickly- so don’t snooze if you see a home you really like.

The benefits of green bananas can be debated.  The benefits of smart buyers in the real estate market make house hunting and buying a home much easier to accomplish.