Utilizing existing space in your home that may just be collecting junk right now is one of the most efficient ways to add living space with minimal investment. Home theaters and playrooms are the two most popular options for basement conversions. Other uses are home-office space, game room, and craft & hobby rooms. There’s a wide range of finishing options for basements depending upon your intended use. It’s also possible to add an additional living space to your home that includes a bedroom and bathroom for guests, in-laws, or independent family members.