A common project for homeowners is finishing unused space of their home to gain additional living space. Often this will be a basement since they often are much larger than the needs of the family dictate. However, this is not something that should be undertaken without proper planning, since it could end up costing a lot more than expected otherwise.
The first thing to make absolutely certain is that there is no risk of water intrusion in the basement. Finishing a basement that could flood will lead to even costlier repairs in the future.
It is also important to be aware of any additional costs that could be involved in the project. If you need to get power or plumbing in the basement, these need to be installed by professionals that know what they are doing, especially since getting water out of plumbing fixtures in the basement usually involves a system that will pump it up to a higher elevation.