HRDC and Local Homeowners Partner to Keep HousingWithin Reach
Bozeman, Montana – HRDC is proud to announce the sale of a single-family home in Northeast Bozeman, providing a local household with the opportunity to achieve homeownership.
This sale reflects HRDC’s commitment to keeping housing attainable for those who live and work in our community. It also highlights how community members can help ensurehomeownership remains possible for future generations in Bozeman.
The 2-bedroom, 1-bath single-family home was made available in partnership with generous community members willing to forgo some profit, and HRDC, which facilitated the transaction and is stewarding the subsidy provided. The home was sold for $370,000 to qualified buyers earning under 150% of the Area Median Income (AMI).
While the property does not fall within HRDC’s traditional Community Land Trust (CLT) program, it features a shared equity model due to its age and potential future costs related to annexation. The home is not subject to an appreciation cap, meaning it can appreciate at market rates, allowing the subsidy to grow along with the home’s value. This ensures that when the property is resold, the affordability benefits can either remain with the home or be reinvested into another.
The new owners, who wish to remain anonymous, shared why they chose to participate in this effort: “My partner and I never really considered buying a home in Bozeman a possibility...Thanks to the HRDC and generous home-sellers, we were able to finally invest in a house of our own and, in turn, invest in the community where we live, work, and play.”
HRDC’s approach to affordable homeownership solutions relies on collaboration. Homeowners who want to ensure their properties remain attainable for working families can partner with HRDC to explore similar solutions that benefit both sellers and future buyers.
The sellers shared their experience working with HRDC, highlighting the support and guidance they received throughout the selling process. “When we decided to sell, we wanted a family who shared our enjoyment of this quiet lifestyle in a friendly neighborhood. From the first day we contacted HRDC, it was evident that they were eager to assist us in finding and selling to an appreciative family. Our first impression was of their confident willingness to offer assistance in the entire selling process, but mostly the generosity of their time and invaluable knowledge of this entire process.”
If you’re a homeowner interested in keeping your property attainable for families and individuals who live and work here, we’d love to hear from you. Please reach out to us at hello@thehrdc.org or call 406-587-4486 to discuss how we can partner with you.
