Is this realistic for an ADU?
We live in CT. We have a ranch home, with a 200 sq ft den off the main living area. We would like to add another 300-400 sq ft and a bathroom off of the den to serve as an in-law/ADU. We received a quote from a contractor for $120k. Does this seem too good to be true or seem reasonable? Also, what is the most cost effective way to fund this?
Edit: we’ve had several contractors come out and this has been the best quote, not necessarily the cheapest. We would first have to get a land survey and soil test since we have septic. We have looked into different financing options, home equity allows us to tap into $84,000 and the rest we would have to come up with. Not sure if it’s possible, especially if there are unforeseen costs. We could do a construction to permanent loan but then we would have to refinance the entire loan. The estimate includes costs for materials, foundation work, obvi labor..