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.
But if your house value is below the average, you can recover a larger part of the renovation costs.â. Also bear in mind that the amount spent on renovation projects should be relative to the value of the dwelling: A $30,000 remodelled bathroom does not belong in a $100,000 house. SEVEN hot home-improvement trends.