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Stretching my budget for a new 70D body. Seems to be exactly what I'm looking for. Am I wasting my money only purchasing an EF lens to go with it? The EF-S is well out of my price range.

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    Which EF and which EF-S lenses are you referring to? – Michael C Feb 1 '14 at 20:58
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    EF are generally the more expensive, EF-s are the cheaper generally speaking. Your question seems to have it backwards. – AJ Henderson♦ Feb 2 '14 at 2:49
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    Generally speaking, stretching your budget to get a better camera at the expense of lenses leads to poorer results, unless there are specific features you need for the type of photography. – Itai Feb 2 '14 at 2:59
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If you are building your kit of the first time and are on a budget constraint, then the only option that you can have is going for the EF-S lenses. There are still some really good lenses in the EFS system and you can most definitely make use of the additional 1.6x crop factor that comes with using an APS-C body like the 70D.

Also depending on the budget you can get third party lenses like(Tamron, Sigma, etc) for a better price that the first party Canon lenses.

It actually depends on what you really have available to spend on, and what kind of photography you would like to do.

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