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This U.S. Town Is Paying $20,000 to Move in — Here’s How to Get $10,000 in Cash and $10,000 for Renovations!

Photo credit: finance.yahoo.com

If you are considering a move, Cumberland, Maryland, presents an intriguing opportunity. This charming town, situated near the border with Pennsylvania, is enticing potential residents with a substantial financial incentive to relocate.

Cumberland is rolling out a program that offers up to $20,000 aimed at new families planning to move into the community. Below is an easy guide on how to make the most of this initiative.

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Incentives Available

The total offer from Cumberland is structured into two distinct parts:

1. **$10,000 in Relocation Cash**: This sum is designated specifically for the moving process. Eligible participants will receive this cash upon the successful closing of their new home.

2. **Up to $10,000 for Home Improvements or Down Payments**: Cumberland will match your investment dollar-for-dollar for renovations or assistance with down payments on properties you purchase in the city. This means if you invest $10,000 into renovations, you’ll receive an additional $10,000 from the program.

Trending: Will real estate prices climb or fall? People are discovering risk-free real estate investments that allow for easy cash-outs.

To be eligible for this opportunity, applicants must be at least 18 years old and possess legal working eligibility within the U.S. Moving from outside Allegany County is necessary, along with the intent to reside within the Cumberland city limits.

In terms of employment, those interested can qualify through various means, such as full-time remote positions, local job placements, self-employment documentation, or by securing a new job in the vicinity. It’s essential to apply and gain approval before the move; if accepted, the individual has a six-month window to relocate.

Additionally, a home purchase of at least $150,000 is required in Cumberland, and the residence must be maintained as a primary home for at least five years; otherwise, recipients may need to repay the funds.

See Also: Explore the hidden opportunities in commercial real estate — A platform allowing investment in commercial real estate with a potential 12% yield and a bonus return.

Why Choose Cumberland?

Cumberland, with a population of fewer than 20,000, offers a variety of benefits. Nestled along the scenic Potomac River, it’s conveniently positioned just a short journey from major cities like Baltimore, Washington D.C., and Pittsburgh. This location is renowned for its stunning landscapes, including 70,000 acres of outdoor recreational opportunities in Allegany County, often referred to as the “Mountainside of Maryland.”

The town features an appealing blend of historical richness, affordability, and a friendly community atmosphere. Cumberland has invested in enhancing its downtown area while preserving its quaint, small-town appeal. Additionally, reliable internet connectivity makes it an ideal spot for remote workers.

Trending: This city leads Zillow’s 2024 Home Value Forecast — Not surprising given that the number of millionaires there increased by 75% over the past ten years.

Steps to Get Started

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This article originally appeared on Benzinga.com

Source
finance.yahoo.com

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