Create zones for different purposes. A large basement can easily handle several activities, as long as you make smart use of the space. Brainstorm the things you hope to use your finished basement for, and then map out your ideas in a floor plan.Style notes: A fresh, light color palette and excellent lighting make this basement feel like an extension of the house, rather than an afterthought. A sofa and an upholstered ottoman define the lounge zone, while an Expedit unit from Ikea corrals craft supplies and toys near a low work table on the opposite wall.