Frequently Asked Questions

Can a Headwaters homeowner choose to sell their home at any time?

Yes.

How much can a Headwaters homeowner sell their home for?

At resale, homeowners may sell their home for the original purchase price, keeping the equity earned by paying down the principal balance on their mortgage. Plus, they may receive compounding interest of two and one-half percent (2.5%) for each year they own the home. And, if the homeowner made approved capital improvements or capital system upgrades to their home, they will be eligible for a credit for these modifications, up to ten percent (10%) of the original purchase price of your home.

This arrangement allows Headwaters homeowners to build equity while keeping the home affordable for future income-qualified homebuyers.

Are Headwaters homes inheritable by designated heirs and beneficiaries?

Yes. Homeowners may designate in their wills who may inherit their home. If the designated heir is a spouse or common law partner residing in the home, Headwaters will consent to this person assuming ownership of the home. Any other beneficiary must be income-qualified by Headwaters and, if this person does not meet these income qualifications, the home will be resold at the resale-restricted price and the beneficiary may inherit the proceeds.

Do Headwaters homeowners pay property taxes?

Yes. Homeowners enjoy the benefit of public services like roads, schools, etc., so, like other homeowners, are responsible for paying real estate taxes assessed by the Gallatin County Treasurer, along with City of Bozeman Special Assessments.

What are the responsibilities of Headwaters homeowners?

Homeowners are expected to be responsible neighbors and community residents. Homes must be used responsibly and only for residential uses. As good neighbors, Headwaters homeowners are responsible for their behavior and the actions of who live in and visit their homes.

May Headwaters homeowners rent or sublet their homes?

No. Homeowners must live in their home as their primary residency, occupying their home for at least ten (10) months every year and may not rent their homes – or any part of their homes – for any period of time. Written permission from Headwaters is required for any exception to policy.

Are there fees paid by Headwaters homeowners?

Yes. Homeowners pay a monthly lease fee to Headwaters Community Housing Trust. This fee is $50 monthly and will be increased by 2.5% annually. Headwaters will use the fees it collects to maintain contact with its homeowners and provide support, as needed, as well as to expand the number of permanently affordable, below-market homes in Bozeman and the surrounding area.

Is there a Homeowners Association (HOA) at Bridger View?

Yes. All 62 homeowners in the Bridger View neighborhood will belong to the Bridger View Owners Association. Dues paid by each homeowner average $200 monthly. The dues collected will be used by the Association to maintain and manage the neighborhood’s common areas (including interior streets, pathways, greenspaces, snow removal, garbage, and recycling collection, etc.) and, when needed, to maintain and replace siding and roofs of all homes in the neighborhood.

What are the maintenance responsibilities of Headwaters homeowners?

Homeowners are expected to maintain their homes and yards in good, safe, and habitable condition, in full compliance with all laws, regulations, insurance coverage and Bridger View Owner Association requirements. While the Association is responsible for repair and replacement of home siding and roofs, homeowners are responsible for all other maintenance, upkeep, and repairs to their homes and yards.

Can Headwaters homeowners in the Bridger View neighborhood make changes and alterations to their homes?

Careful attention was paid to the aesthetic and environmental benefits of the interior of each Bridger View home. Nevertheless, homeowners may make cosmetic changes to the interior finishes of their homes, as they wish.

Major alterations that require a building permit from the City of Bozeman (e.g., finishing the basement, adding a deck, installing solar panels, etc.) require prior, written approval from Headwaters and must be consistent with the neighborhood’s Design Guidelines.

Due to the compact nature of the Bridger View neighborhood, expanding the footprint or height of homes is not allowed.

For complete homeowner information, prospective buyers are encouraged to review the following resources:

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Housing affordability is at a critical juncture. It is a community-wide problem that requires community-wide participation. By supporting the Headwaters Community Housing Trust today, you can be part of the solution.