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.
Just to give you a realistic idea on a couple more common costs, I pulled up the numbers from one of my past projects. This home was 1,200 square feet on two levels plus about an 800 square feet basement. The total renovation cost was approximately $85,000. Iâve never had a home renovation that costs much less than about $35,000. Construction costs vary widely.