While many homes feature partially finished basements, there are also those with completely unfinished basements primarily used for storage. These underutilized spaces, often dark, cold, and damp, hold incredible potential for transformation. Partially finished basements may be easier to convert into usable living areas, while completely unfinished basements often require more extensive renovations. Regardless of the starting point, both types offer significant opportunities to add valuable living space and increase a home's property value. However, the extent of this potential varies depending on the specific circumstances of each project.

Typical basement remodels and conversions include creating additional bedrooms, adding a bathroom, finishing a laundry room, or designing functional spaces like home theaters, exercise rooms, or recreation areas. The square footage added to a home through such projects depends largely on the size of the existing basement and the homeowner's specific goals for the renovation.