C
laudia and Chris Beiler, owners of a home design and renovation company in Honey Brook, Pa., were looking to upgrade from their three-bedroom house where they had spent 12 years renovating. The couple wanted to stay within 30 minutes of Honey Brook, where they would keep their old house and rent it out. Mrs. Beiler, who homeschools their five sons, sought a home with enough space for a classroom and several acres of land. She also desired a midcentury or modern style home, although options in the area were limited.

    The couple worked with Mr. Beiler's experience as a real estate agent to find three potential homes that met their criteria. Each had at least one major flaw, but they were willing to consider almost anything due to their renovation expertise. Their budget was $800,000 to $850,000 for the home and necessary renovations.

    The first option was a four-bedroom ranch house on nearly four acres in Honey Brook, with an undeveloped lot next door. The L-shaped house had midcentury-modern features like a stone fireplace and open floor plan, but it was in worse shape than listed and had mold. Estimated renovation costs were $200,000.

    The second option was a three-bedroom home built into the side of a hill in Elverson, Pa., with arched windows and a spiral staircase. However, everything inside was dated, and there was mold both inside and out. The four-acre plot offered expansive views but lacked trees for privacy. Estimated renovation costs were $300,000.

    The third option was a midcentury-modern home on 13 acres in Morgantown, Pa., with original mahogany woodwork and vaulted ceilings. However, the previous owners had stripped out most of the electrical systems and plumbing, relying on an outdoor wood-burning furnace. This made it difficult to secure a conventional bank loan. Estimated renovation costs were $100,000.

    The Beilers ultimately chose...