A growing number of homeowners are viewing reports about the lean housing inventory and fierce buyer competition and may increasingly be deciding to stay put and renovate their current home instead.

Seventy-nine percent of more than 1,500 homeowners surveyed say they’d rather renovate their current home than move to a different one, according to a survey conducted by Discover Home Loans.

But home renovations aren’t easy to take on lately. Forty-two percent of homeowners say that rising interest rates are delaying their home improvements. Also, nearly half say that they have faced material delays in their house projects.

More than half of homeowners—57%—say they have undertaken projects that have gone over budget. Nearly two in three report their project cost has increased since their initial contractor bid, too. Forty-two percent of homeowners say they have delayed their home improvement project because of rising costs.

Source: Discover Home Loans