For good reason the Saskatoon and Region Home Builders’ Association keeps an eye on the cost of construction material. It says, on average, the recent increase in the cost of construction materials can add as much as $30,000 to the cost of a new home in Saskatoon. This equates to $119.92/month additional on a 25-year mortgage. The Association says the cost of waiting 2 years to purchase a home with the goal of saving $119.92/month could potentially cost over $62,000 extra in interest payment due to rising interest rates. There is also the possibility of over $21,000 in lost appreciation assuming a conservative 2.5 per cent annual price increase.