Living and working in the Bitterroot Valley, Seth had been saving up for a down payment for some time before reaching out to a lender back in 2019. Working in GIS mapping with a degree from the University of Montana, he was in the process of finding a home to purchase when the pandemic happened and halted his search abruptly. “Prices skyrocketed and that was the end of my search,” Seth stated.
Once those plans changed, Seth lived in two different rentals, both of which changed ownership resulting in double and triple his original monthly rent. He was trying to save to meet new housing prices but felt he was spinning his wheels towards an unattainable goal.
Shortly after, his company relocated him to Missoula. As he started his new housing search, a friend reached out and mentioned they knew someone who was selling their manufactured home in River Acres, a resident owned community in Missoula.
Seth was uninterested at first. He wasn’t keen on investing in a mobile home since lot rent was often out of the homeowner’s control. When he toured the community, he noticed the sign out front mentioned their co-op model, and he was instantly intrigued. After learning more, Seth thought, “This is a feasible purchase!”
Seth bought the home his friend recommended from a single mom who was able to save up for a down payment on a home outside the community thanks to the affordable housing costs she had through resident ownership.
Now, just over a year later, Seth is a proud resident of River Acres and president of the board of directors that helps manage the community.
“Whether I am the president or hold any other position here, being in a leadership role is a great way to help the community I am now a part of. The board is integral for this co-op, and I felt like my education and experience could make a real difference here,” Seth explained proudly. “As we do more projects, there’s an increased sense of ownership and responsibility. We’re a group of people with a common goal: keep the co-op going. Our fates are intertwined so let’s take care of the community the best we can.”
For Seth, living in a resident owned community means security and a feeling of refuge in the current housing market. After dealing with a history of rent hikes, he equates co-ops to a safe haven and would love to see more housing across Montana transform into this ownership structure. “It’s such an important and beneficial way for people to not only survive but thrive in a lot of cases, and I’m grateful for this community I call home.”
About Montana ROCs
There are currently 22 resident owned communities in the state of Montana, with a total of 852 homes preserved across the state. Learn about all of the communities across Montana.
Are you a current park owner who is thinking about selling your park? NeighborWorks Montana has the financing, industry knowledge, and technical expertise to help your homeowners buy your community for its full value when you are ready to sell. View more information HERE or reach out to Adam Poeschl, [email protected].
About ROC USA
There are more than 352 ROCs in 21 states across the nation. NeighborWorks Montana provides the ROC program in Montana as part of the ROC USA® Network. The ROC USA® Network is made up of twelve non-profit affiliates across the country. The ROC program helps to provide safe, secure, and affordable housing in perpetuity, and it eliminates the risks for residents of rent increases or being evicted without cause.
