There are many great things you can do with a finished basement. Many people turn their basements into game rooms, so that noise from the lower level does not effect the upper level and quieter environments. Homeowners often turn their basements into home offices. This allows for the professional space to be separate from the living spaces. Some homeowners even turn their basements into guest rooms and apartments for relatives. Once your basement is fully waterproofed and you have finished the basement, their are many great things that can be done with the space.