It mostly depends on what you want your ant to be. Say if you wanted a top, state-of-the-art ant, then the budget for it would have tripled. But, judging by what you are after, I would say that you can build an ant for that amount, no problemo. It wouldn't be the best, but it wouldn't be the worst either.
The most expensive thing to buy would be the transmitter/reciever. Everything else is relatively cheap.