My husband and I are in the process of buying a 1968 ranch home. It was updated in the mid 1990s and we plan to fix it up over time. (We'll be painting lots of wood trim if all goes well!)

The one update I don't know is possible is one I'd probably like the most. The stairs to the finished basement, which is 990 square feet, run right between the kitchen and living room. I've seen a few remodels with this layout online, but since I have no idea if it's possible in this home to do pony walls or something of that sort, just to make the two rooms more open. Does anyone know if this is possible? It'd be something we save up for a few years down the road or might not even do if it's prohibitively expensive.

At the very least, I'd like to open the door way wider, and take away the small wall between the basement door and opening to the living room. There's nothing built on either wall that can't be moved--just that small cabinet in the kitchen. Any thoughts?