Homeownership is good for families, businesses, and the broader community—but historical barriers have made it difficult for many to succeed at buying a home. So what should you know about the history, data, and current trends in homeownership before you buy? And why should you care?

In this episode, Beginner to Buyer podcast host Nadeska Alexis sits down with Cerita Battles, Head of Community & Affordable Lending at Chase to talk about these historical trends and unpack why they are relevant to homebuyers today. Cerita overviews data on the importance of ownership to family stability as well as the benefits that higher rates of homeownership confer on communities. She outlines historical barriers to entry that excluded some groups more than others from homeownership, and she describes how those policies and norms have impacted generational wealth in this country for centuries.

It’s enough to discourage many minority or less-privileged individuals from even attempting to buy a first home, but Cerita delivers an encouraging perspective. As Head of Community & Affordable Lending at Chase, her mission is to help tear down those historic barriers faced by minority consumers and underserved communities. And, she shares, the demographics around homeownership are improving. For instance, according to the National Association of Realtors, nearly 25 percent of properties today are owned by single women.

Cerita also shares how the financial services industry is prioritizing strategies aimed at expanding homeownership to more families and individuals. You’ll hear her discuss both the real obstacles and the misperceptions about homebuying that can impact your progress toward homeownership. So if you’re someone who wants to buy a home but is concerned about qualifying for a mortgage or other aspects of the homebuying journey, you’ll find inspiration and pearls of wisdom as Nadeska and Cerita de-mystify the process and arm you with knowledge for success.

You can read the full transcript on the Chase Website

Is homeownership really for me? How do I know if I’m ready to buy a home? And can I afford to buy and still live the life I love?

These are just a few of the questions people ask as they consider buying a home for the first time. They may sound elementary, but as Beginner to Buyer host Nadeska Alexis uncovers, they are actually essential starting points for a successful journey to homeownership. In this episode, she hears from a first-time home-buying couple and then discusses their questions and concerns with Keosha Burns, Executive Director and Senior Advisor for Community and Affordable Lending at Chase.

Brandy Stone and her husband Shawn Butler currently rent a home in Rancho Cucamonga, California. They want to buy a home, but they’re not quite sure they know the best way to get started. Brandy is 30, she’s still paying off student loans, and she feels she’s spending too much on rent. She tells Nadeska that she doesn’t know where to look or who to trust for advice. At this point, she feels confused, intimidated, and naive.

Brandy has many questions for Nadeska: How do I get started? Who should I talk to? How much money do I need to have saved up? Is there a certain credit score I need to qualify for a mortgage? And are there going to be any surprise costs? Can I negotiate? Are there resources available to help me navigate this process?

And finally: How do I do this without spending so much that I can’t also live my life?

Nadeska knows these are common questions. To help Brandy and Shawn feel more confident moving forward, she turns to Keosha Burns, Executive Director and Senior Advisor for Community and Affordable Lending at Chase. Keosha has dedicated her career to the human side of homeownership and aims to make homebuying more accessible to young people and historically underrepresented groups, especially single women.

Keosha acknowledges that buying a home is a huge milestone—and knowing whether you’re “prepared” for it might look different for different people. But there are questions that every potential homebuyer can ask themself as they evaluate their own circumstances. For instance, she says, emotional readiness is a big factor, and homeowners who have prepared themselves for the ups and downs they might encounter will likely be more successful—and less stressed. She also has information about practical matters such as how your income, debt, savings, and credit score can impact your mortgage application.

Listen to this episode to hear Keosha’s advice to people who are already feeling overwhelmed or discouraged by the process. Often, she shares, an image of a certain kind of family or home comes up when people talk about homeownership in the United States. But homeowner demographics are changing, and there are key differences between millennial homeowners and their older counterparts.

Keosha’s advice includes “practicing” your potential mortgage payment for several months before signing a purchase agreement. This can help you understand if you can really afford it and see how it will impact the rest of your finances. Overall, she shares, the best way to avoid buyer’s remorse is to have a deep understanding of what life looks like post-purchase, and to budget ahead of the purchase so you won’t be shocked about life on the “other side.”

You can read the full episode transcript on the Chase Website