They put $300,000 down to move up in Passyunk Square| How I Bought This House
After selling their first home, this couple rolled their equity into a $725,000 house in the same neighborhood.
The buyers: Catherine Wargo Roberts, 45, content designer; Karsten Roberts, 46, respiratory therapist
The house: A 1,700-square-foot townhouse in Passyunk Square with three bedrooms and two bathrooms built in 1915.
The price: listed for $725,000; purchased for $725,000.
The agent: Ashley Miele, Compass
The ask: Catherine Wargo Roberts and her husband, Karsten Roberts, had no desire to leave Passyunk Square. They were already deeply rooted in the neighborhood, with two kids enrolled at the local school and a daily life that revolved around a few familiar streets. But they had grown tired of their mixed commercial and residential block. “We were very happy for new businesses to come into the neighborhood and thrive,” she said. The block had become “just a little bit busier … than we wanted.”
The search: In fall 2024, the family set off in search of a new house. They wanted more square footage, lots of outdoor space, and an unfinished basement. “Everybody in Philadelphia wants a finished basement, but everybody’s basement floods,” Wargo Roberts said. “I want an unfinished basement so that if it fills with water, I’m not freaking out.” They also needed to stay in their kids’ school catchment.
Their list narrowed the search to just two houses. One was north of Washington Avenue, which Wargo Roberts said “felt like a whole different ballgame,” even though it was close to the kids’ school. It also didn’t have any outdoor space.
The other house they had to wait for. An agent friend had given them a heads-up that it would be on the market in a few months. The couple grabbed the first viewing available on the first day it was open for a private sale.
The appeal: Inside, Wargo Roberts was immediately drawn to the home’s size and layout. It was 250 square feet larger than their previous home, and most of the extra space was in the first-floor living area, which Wargo Roberts appreciated. “I didn’t care about a big bedroom,” she said. “That’s not something I need.”
Outside, the house offered outdoor space that felt special: a large backyard, plus a deck that connects to the master suite on the top floor and a second deck above it. “Most people walk in our backyard and are like ‘holy s—,” Wargo Roberts said.
The deal: The house was listed for $725,000. The couple submitted a full-price offer the same day they saw it. It was within their budget, and “the comps supported it,” Wargo Roberts said. The next night, they learned their offer had been accepted.
The inspection revealed a failing sewer line and a bowing brick facade. The sellers agreed to a $7,000 credit for the sewer repair but declined to cover the estimated $8,000 cost of stabilizing the front wall. “They played hardball,” Wargo Roberts said. “They knew we wanted the house.
The money: The couple’s path to a $725,000 home began more than a decade ago in San Francisco. In 2012, they bought a condo for $562,000 with help from Wargo Roberts’ parents. “We never would have been able to do that without help,” she said. They sold the condo in 2017 and walked away with $330,000. They used $235,000 for a down payment on their first Philadelphia home, which cost $470,000.
To purchase their current house, they used an interest-free bridge loan to cover the down payment while they waited for their old house to sell. “It kept me up at night every single night for 30 days,” Wargo Roberts said. “Because if the house you’re selling doesn’t sell in a certain amount of time, the interest ramps up.” Nine days after it went on the market, their house sold for $612,000, netting them $360,000. They put $300,000 toward the down payment on the new house — roughly 41% of the purchase price. Their monthly mortgage payment is $3,600. “That’s only possible because we had a giant down payment,” Wargo Roberts said.
The move: The family closed on their new house in April, but the sellers continued to live there for free until June, when they moved to Florida. Becoming a landlord for six weeks wasn’t worth the hassle, Wargo Roberts said. The sellers, she added, “got a sweet deal.”
She did, however, request a security deposit. “What if they decided to chainsaw the fridge in half?” she said, laughing. “You have to protect yourself to some degree.”
Because of the delayed closing, the family had time to prepare. They put seasonal items, books, and decor into storage to reduce moving costs and packed everything else themselves. The kitchen was the only thing they outsourced. “It’s a huge pain,” Wargo Roberts said.
A friend with a pickup truck moved the family’s plants over, and Broad Street Movers took care of the boxes and furniture. “It’s always the skinniest dudes that you’re just like ‘I can’t understand how you walk, much less carry my couch up three floors,’ but they did it,” Wargo Roberts said.
Any reservations? “We probably overpaid a little bit,” Wargo Roberts said. “I would’ve loved to get it for $700,000 instead of $725,000.” Still, she is happy with the outcome. “We’re in a house that I feel pretty certain we’ll live in until our kids are out of high school,” she said.
Life after close: Wargo Roberts wasted no time making changes. She painted multiple rooms and tackled one feature she couldn’t live with: a neon-lit wall in the master bedroom. “I called it the portal to another dimension,” she said. “It was so weird.” They used money they had set aside from the sale of their previous home to install custom-built-ins on either side of the bed, covering it completely.
They also rebuilt a traditional South Philly vestibule in the front of the home. “It was a vanity project for sure,” Wargo Roberts said, “But I just really wanted one.” She doesn’t regret it. “Best money I ever spent.”