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Great advice! We will look at Denville/Mt Lakes on our next house hunting trip. Another question, we looked at neighborhood called "The Hills" in BR. Seemed like a very nice mix of large town homes and detached houses.
If we leave NJ after a couple of yrs and need to rent out our town home for example, what is the rental market/vacancy rate for large newer town homes like what we looked at in BR? Would it be easy to rent, as opposed to a large detached home?
Great advice! We will look at Denville/Mt Lakes on our next house hunting trip. Another question, we looked at neighborhood called "The Hills" in BR. Seemed like a very nice mix of large town homes and detached houses.
If we leave NJ after a couple of yrs and need to rent out our town home for example, what is the rental market/vacancy rate for large newer town homes like what we looked at in BR? Would it be easy to rent, as opposed to a large detached home?
Very active rental market for townhomes in the Hills. A 3BR-4BR townhome will rent from $2,000 at the low end to $4,000 or a bit more at the high end, with $3,300 being typical. There were 45 rentals in Bernards of 3BR townhomes over the past 12 months, with the majority of those in the Hills. You will not have a problem renting out your unit quickly if you need to do that.
Single family homes in your price range rent from $4,000 to $6,000 with $5,000 being fairly typical. There have been about 50 rentals over the past year of detached homes.
All of this by the way, is through the MLS system. Additional rental activity takes place outside of the system also. In any case, renting is fairly straightforward as long as you are comfortable assuming the role of a landlord.
No comparison in pricing or prestige. Basking Ridge is Bernards Twp, which is one of the most expensive townships in the state. Denville is not cheap, but not in the same class. Your $750,000 will go much further in Denville. Actually, the two areas are not even in the same league, and I'm not sure why you would choose Basking Ridge at all if the commute is going to be Parsippany. For Parsippany, I would stay with Denville, Rockaway, Montville, Pequannock, Randolph, Fairfield, Hanover, etc. Basking Ridge does not give you anything that these other towns do not in terms of basic lifestyle. A $750,000 budget in Bernards Twp gets you a small and very non-descript home. So you can share the postal address of the well-to-do, but cannot invite them over for tea. The only reason I might go with cheap housing in Basking Ridge is to get into the school district. But in that case, just find something in Mountain Lakes. Same school quality, more charming, and next door to work.
On your next trip, schedule a visit to Mountain Lakes. You will see what I mean and will probably write off Basking Ridge.
I happen to have a friend in BR in a GREAT area who will take the $750k NOW. 4br 2 bth all updates, great street, BEAUTIFUL home, etc, etc. So just like everyone has said, you can get a great home for that budget.
I happen to have a friend in BR in a GREAT area who will take the $750k NOW. 4br 2 bth all updates, great street, BEAUTIFUL home, etc, etc. So just like everyone has said, you can get a great home for that budget.
Amazing. 3/4 Million for 4 BR and 2 Baths. Ouch. Even with the updated kitchen. Ouch.
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