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.
As a general guide, renovating a standard home will cost in the region of Â£500 to Â£1,000 per square metre, while new construction costs start at around Â£1,000 to Â£1,500 per square metre, depending on the design and quality of finish.nother method for gauging the overall cost of renovating a property is to start with the cost of new construction, letâs say Â£1,000 per square metre, and deduct the cost of things that wonât need to be renovated, for example the roof, walls and floors etc., if they are in good condition.