Caught my basement reno costing 30% more in materials than I budgeted

I was pricing out lumber for my basement framing last week and nearly fell off my chair when I saw the OSB sheets were $68 each. I built a shed two years ago and those same panels were like $38. Found this stat in a 2024 building materials report from the Canadian Home Builders Association that said lumber prices in Edmonton have jumped 34% since 2022 because of tariffs and supply chain stuff. I had planned a $4,200 materials budget but after adding up everything with current prices at Home Depot and Windsor Plywood I'm looking at $5,600 easy. Guess I should have checked prices before I tore out the old drywall last month lol. Has anyone else in Edmonton had to totally rework their project budget because of these price jumps?

2 comments

2 Comments

the_fiona27d ago

Read that same report from CHBA. Nasty stuff. I'm paying 40% more for lumber on my jobs compared to two years ago, customers are always shocked. Your best bet is calling around to smaller lumber yards, sometimes they have better prices than the big box stores.

parkera2227d ago

Right? 40% is crazy. I feel like lumber prices have a mind of their own these days, one day they're up the next day they're up even more. Customers just stare at me like I'm making it up when I tell them the price. Smaller yards are a good tip though, sometimes you find a guy who just wants to move the wood and cuts you a deal. Gotta love when the 'sticker shock' is the biggest part of the job description now.