6 Smart Reasons to Put Off That Renovation as Lumber Prices Soar 6 Smart Reasons to Put Off That Renovation as Lumber Prices Soar Even aside from delaying for prices to come back down, it makes a lot of sense to wait. Editor's Note: This story originally appeared on The Penny Hoarder. Home renovations are never cheap. But the soaring cost of lumber is making that statement especially painful. Thanks to a lumber shortage, your everyday 2×4 is now more than the cost of a Chipotle burrito. That might not sound like much, but just a year ago, you could get a 2×4 for around $2 to $3. The price of a Chipotle burrito today? About $7, more with extra fixings.