If you are thinking of finishing your basement to provide additional living space, you need to take into account every major system that is going to be impacted or modified. These include the electrical system (Is the existing electrical service capable of handling the additional circuits that are going to be installed?); the plumbing (Do you plan on installing an additional bathroom or bar sink?); the heating and air conditioning (all finished/livable rooms need to have a permanent source of heat installed), as well as any possible concerns with water penetration or leakage into the basement.