K
im Sephes, a 40‑year‑old learning coach, and her husband Matthew were searching for a new home for their eight‑member family after Kim’s father died in 2019. They ultimately bought a 1,380‑sq‑ft, 1950s twin in Mount Airy that has three bedrooms, two and a half baths, a finished basement, and a back patio. The purchase price was $255,000, with an offer of $5,000 above the $250,000 asking price.
Kim said she no longer wanted to live in the church house attached to her father’s building; it felt “strange” after his passing. Safety, a driveway, a larger yard, and a fourth bedroom were top priorities. The couple first scoured Northeast Philadelphia, then expanded to Mount Airy, where competition was fierce. They made offers on four homes but were outbid each time, a market saturated with cash offers. In August 2022, they found a move‑in‑ready property that only needed kitchen updates. Though it had three bedrooms instead of four, the finished basement could be converted, and the corner location meant it wasn’t in the middle of the block.
The sellers were keen on a family buyer, even though investors had higher cash offers. Kim’s agent worked hard to persuade them, and the offer was accepted after a brief inspection negotiation. The couple paid a $5,000 non‑refundable earnest deposit.
To finance the purchase, Kim and Matthew saved $18,000 over two years, setting aside tax returns and portions of their paychecks. They also received a $15,000 forgivable loan from the Neighborhood Lift program, which they need not repay if they stay in the home for ten years. Fulton Bank provided a $2,000 grant and an FHA mortgage at 5% interest. The Neighborhood Lift grant was pivotal; without it, they would have qualified for a much lower loan.
Closing occurred on September 26. They paid October rent to ensure a smooth move, and the church refunded the full month’s rent. The only drawback Kim notes is the house’s modest size, though the garage offers extra storage. She is grateful to have left the church house and praises the neighborhood’s quiet, wide streets and ample parking. The two and a half bathrooms also add to the home’s appeal.
