We have pine as I dont like the wood look so Issys is white and we are having Elias's professionally painted blue.
We purchased both cots 2nd hand.
Im not sure how long you think a bub stays in a cot .. but I see them as long term investments, especially since Issy is still in hers and probably will be for quite awhile to come yet.
That meant that we had to purchase another cot (although we got away with only having one bassinette and hammock, as Issy had outgrown those before this bub needs them).
I dont think she would have outgrown her cot by the time Elias requires a "real" bed lol
I personally dont think it matters what it is made out of .. but the quality of the make itself