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.
Costs. The cost of remodeling an existing house and building a new one depends on the quality of construction and finishes. Remodeling an existing house may end up being as expensive as building a house from the ground up.According to Remodeling Magazine, the average national cost in 2011 for adding a second story to an existing house is $165,243, and a major kitchen remodel averages $58,367.The National Association of Home Builders reports that the average national new construction cost in 2011 is $184,125.uilding a New Home. Remodeling an existing house isn't always cheaper than building a new house. Remodeling a house is one of the biggest tasks you may ever tackle. You may even consider whether you would be better off building an entirely new home.