Many areas of the home offer a lot of versatility and are typically the most economical space to finish off. They should be treated as an extension of the main home and not as an after thought.
The most common use is for a recreation/family room and usually includes a full bath, widescreen TV, etc… Some clients have utilized their space for game rooms and home theaters. Guest suites are also a possibility, providing an egress window or scape well is incorporated into your design.
When evaluating your space you will want to consider lighting options, natural light, layout, maintaining some storage area, back up sump pumps with alarms, and access to future mechanicals.
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