Look at the utility setup. "Make sure you understand the condition of the existing services in a structure—such as gas, water, and electricity—and whether or not these will need to be upgraded in order to meet current building regulations," says James Davies of London–based architect and design studio Paper House Project, who did a dramatic conversion of a rundown London warehouse.  Photo 1 of 12 in A Forgotten Warehouse Is Reborn Into a Light-Filled London Home

A Forgotten Warehouse Is Reborn Into a Light-Filled London Home

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The rundown warehouse was in desperate need of constructive repair. In the initial stages of the project, complex negotiations were required to gain a right of way for access, connection to services, and ultimately permission for the building's new use.