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What type of wood is good for all purpose woodwork?

I want to go to Lowe’s or Home Depot and buy some lumber for my newly bought power tools. I plan on making random things whenever I feel like it and I’m looking for a general all purpose type of wood. I know there are specific woods for specific projects but there has to be something that’s okay for everything. I want to build chests, little bookcases, rice paper lamps, stools, dvd cases, or whatever else I can think of. I’d also like to keep it in the cheap to moderate price range nothing expensive I just want to stock up. Thanks.

Personally, I like white pine best. I have made a lot of hobby projects, and found white pine easy to work with, takes stain nicely, and paints well, too. And it is the least expensive wood to experiment on while you are learning to use your new tools.

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