Definitions (2) 1. A measure of the average distance between each of a set of data points and their mean value; equal to the sum of the squares of the deviation from the mean value. 2. In accounting, the difference between the actual cost and the standard cost for direct material, labor and overhead.
Whole-house remodels on homes less than 1,000 square feet generally cost about $18347, while it may cost $22417 to update a home of 1,000-2,000 sq. ft., $28904 for 2,000-3,000 sq. ft., and $36121 for homes between 3,000 and 4,000 sq. ft.
In fact, he gives an example of a 1,200 square foot, two-story house with an 800 square foot basement he completely renovated at a cost of $85,000. While not every home renovation project will cost as much as that one, itâs unrealistic to think that a complete home renovation can be done for $10,000 or anywhere near that, as some homeowners may think.