Kitchen
Games Room
If the space is a luxury and not for a specific purpose then the
obvious answer is to create a games area.
Self-contained Apartment
If your current kitchen is on the small side and you love to cook
then this is a good opportunity to lower the kitchen and refit it
in your basement.
Another option for your basement renovation is to convert it
into a self-contained apartment. This is excellent if you have an
elderly relative that needs to be looked after but wants to
maintain their independence.
Bedroom
Another option is to convert the basement into a new master
bedroom. This can be a luxury affair which will leave your old
bedroom available for the children.