Before you focus on the inside, however, a successful basement makeover should start on the outside. Most basement water problems are from poorly led leaders and or clogged guttters. If you haven't already done so, have a landscaper grade the ground so it slopes away from your foundation and install a drainage system to help alleviate problems with water seepage. Move inside and seal the interior walls a good quality coating for added protection against moisture. You may need to consider a waterproofing system like Basement Systems Inc. They can be expensive but our experience shows that they work. Once that prep work is complete, you can begin framing for sheetrock or other wall surfaces, including bead board paneling or even fabric.

As part of your renovation, be sure to check for available power, phone and cable outlets as well as water lines, especially if you are planning to install a wet bar, laundry room or bathroom. Depending on the amount of natural light your basement has, you may also want to install additional ceiling lighting, such as recessed lights or ceiling mounted fixtures.

When choosing a floor surface for your new space, be sure to take into consideration how the new room/s will be used. Hardwood, stone or laminate flooring provides durability and easy clean-up for kid-friendly spaces, but carpeting or plush area rugs will provide the warmth and sound-absorption qualities that you will need to transform cold, hard basement spaces into welcoming guest suites or entertaining rooms. Some of your choices will be limited by the condition of the cement floor. To check for water, tape to the floor on all four sides a 12" square piece of plastic during your rainy season. Leave it there for a day or two, if there is moisture in the cement then water will form on the underside of the plastic. If there is water present don't despair there are choices. If you can swing the expense and have the head room consider radiant heat flooring. Also, don't forget to build in a drain to allow continuous use of a dehumidifier.

Furnishings and colors should all reflect the uses of the rooms: colorful and playful touches for kids spaces; comfortable and sophisticated nuances for more adult spaces. And remember, whatever the use, stay away from colors that are too dark, especially if you have limited natural light flowing into the space, since you don't want your basement to be confused for a cave.

With the ever-increasing popularity of home improvement projects, the options for basement renovations seem endless. And unlike major additions to your home, your basement re-do can be done faster and for less money while still adding value to your home.