Remodeling your basement could solve a number of problems with limited space or the way space is currently used in your home. If your basement is dry, the space can be used for almost anything you can imagine. It could be a great place for a teen suite, an in-law suite, a home theater, a playroom for the kids, a home gym, extra bedrooms, a family room, a game room, a hobby or craft room, a home office, or a library or den. Remodeling a basement will cost far less than building an addition to your home because you will save the cost of foundation work, exterior walls, windows, etc.