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Homeowners are planning to spend healthily on springtime home improvement projects, according to a recent report from investment banking company UBS. However, it seems much of the projected expenditures will be on DIY-type projects where homeowners can purchase tools and materials from retailers such as Lowe's and Home Depot, Business Insider reports.

UBS's survey of 2,000 adults found that 59% of respondents are gearing up to tackle a home improvement project in the next three months. That figure is up three percentage points from last year. These homeowners are primarily driven by an interest in improving their home's look, fixing broken stuff around the house, and taking on projects that they've put off.

The report from analysts Michael Lasser, Atul Maheswari, Michael Goldsmith, and Mark Carden also found that a total of 60% of respondents plan to hit up either Home Depot or Lowe's to stock up on all the necessary home improvement gear.

One thing the entire group of prospective customers has in common is a desire to drop a significant chunk of change on these projects. Respondents plan to spend $6,360 on average—up 19% from last year—on home improvement in the coming months. And 66% of respondents said they have all the money they need to finance the work.

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