Summarize:

. Before you can start finishing your basement, you'll need to make sure that you don't have uncontrollable mold and moisture problems. Work to stop all mold in your basement and ensure that you can stop water from getting in. If you can't, then you may need to consider that it would be unwise to continue. Once you know that it's possible to finish your basement, you'll need to create a budget to find out how much money you really have to work with. Don't forget to take into account things like building supplies, extras, labor you'll need to hire, and the items you'll need to put in the basement like toilets and showers. Hiring a contractor or a designer may be a good idea, as they can help you figure out how much money you need and where you can save a few bucks. You'll need drawn out plans, especially if you're going to be doing the work yourself. You'll need to know the lengths of all the walls you'll put in, how much square footage of flooring material you'll need, how much wall space you need to drywall, etc. Draw out plans for your basement and the changes you plan on making and remember: measure twice, cut once! Before you continue, it is very important to get all of the necessary permits and inspections from your local building department. You wouldn't want to go to all that work and then have someone tell you you need to take it down or worse: hit a surprise water main!
Get your mold and moisture problems under control Budget for your renovations. Plan your renovations. Get any necessary permits and inspections.