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Updated almost 3 years ago, 12/29/2021
Reasonable cost for Los Angeles property projects
Hello BB Family,
Need your expertise as to to whether my contractor presented me a reasonable costs. My rental property is located near USC. I need roofing done and was presented a cost of $28k, exterior painting of $9.5k ( 2 story SFH).
For the one bedroom ADU (ncluding plan/permit), tearing down of existing garage and fence, it will be $230k.
Balance on mortgage is less than $200k and the latest appraisal is at $900k.
I am now approved to refi at the rate of 4.125%
Before I sign the final documents, am I making a sound decision here?
Any advise will be very much appreciated.