This Is What It’s Like To Buy A Home As A Black Woman

. “Black Americans, who haven’t always had access to resources or capital, were largely left out of that.” That gap in generational wealth is one reason Burns has committed herself to making homeownership more accessible than ever for millennials, women of color, and first-time home buyers — and the primary reasonIllustrated by Hannah Minn

“At the same time, I was still the first to graduate with a college degree. I wanted to live up to my education, and I had seen, firsthand, how important homeownership was to my family members. When I finally purchased, it was one of those moments that makes you think of how proud your ancestors would be to see you. I was achieving something that they fought for me to do. I was standing on their shoulders.“The significance of buying a home, both for me and my family, was not lost on me.

“Being aware of the challenges, I chose someone I knew as my realtor. Someone that I trusted would be hands-on, walk me through every step of the process, and be nonjudgmental. I had a great experience and it all went pretty quickly. Buying in Washington, D.C., a historically Black city, I worked with a lot of Black housing professionals throughout the process, which I think played an important role in my having a great experience and shows the importance of diversity in all areas of business.

“When I first got serious about buying a home, I had $20,000 in student loan debt and $9,000 in credit card debt. But generally, home lenders don’t count student loan debt against you as long as you pay those bills on time. So I decided to choose one type of debt, in my case it was credit cards, and attack that aggressively to free up my income for savings.

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