Many Americans lack knowledge of basic concepts about home ownership, including misconceptions about mortgage terms and knowledge about home buying, maintenance, and renovation, as well as home building, a new study has revealed.
The study was conducted in May by Lombardo Homes, a Midwest home builder specializing in new construction in Michigan and Missouri, which surveyed close to 1,000 people nationwide aged 18–77.
Jenn Tracy, spokeswoman for Lombardo Homes, told The Epoch Times that they wanted to find out about knowledge gaps in both prospective and longtime homeowners.
“I was really surprised that America failed this quiz with questions on basic information that someone who’s buying a home should know,” she said….