Franklin Lakes is a highly desirable community. So much so that a typical vacant buildable lot will cost you $750,000 on a busier road, about $1,000,000 to $1,100,000 in a decent but not top neighborhood, and $1,200,000 to $1,800,000 in top areas like Urban Farms.
That doesn't leave you much to build a nice new house if you are in the 1.3 to 1.4 million dollar range. And you are definitely not better off "settling" for new construction on a busy road. Especially for your first home.
So I'm going to post some interesting data for you to consider. First, every single family home in Franklin Lakes from $1,000,000 to $1,500,000. Second, every piece of land currently available on the MLS system. And third, a really nice school profile report for Bergen County.
If you would like "sample packs" of closed sales for any other community, just contact me through my website and I'll e-mail them right away. It's an excellent way to see how far your money is really going to go in any community you might be interested in.
Good luck in your home search!
The reports are here: