MYRTLE BEACH, SC (WMBF) - A new report shows people are spending more money on home improvement goods.
A study by IBM Smarter Commerce shows just as home prices are beginning to rise, home improvement sales are growing as well.
"I think it's just a philosophy change for home owners," said Walter Vossberg who is renovating a house in Myrtle Beach. "People want to make a home their final home and want to make their home exactly what they want it to be without regard as to what the value is going to be."
Vossberg said people used to think more about how much a new improvement to a house would increase the value of a home. He said now people aren't planning to move.
"People are asking what am I going to get back, am I going to get back what I put into the home?" added Vossberg. "Now they say this is the place we want to stay in so we want to make it personalized."
The increase in spending on home improvement project brought in some good business for Lacy Paulussen's home supply store in Myrtle Beach.
"We've sold a lot of bath and kitchen hardware," said Paulussen. "A lot of the remodelers are redoing what's existing so they're redoing a lot of cabinets and refreshing hardware."
Tine Strumke helps homeowners with painting, she said the business has shifted from people worrying about what color they might paint a house because that could devalue a home.
"It's people just haven't had their home painted in seven years," Said Strumke. "They've decided they aren't going to move because they like their neighborhood so they want to give it a new look."