Thinking about remodeling an old basement? Here are some of the issues to consider:

Water -- a common culprit of older basements that were not designed to become finished space. First, make sure your landscaping, gutters and downspouts are designed so that water drains away from the foundation walls. If you're lucky you can remedy a minor seepage problem by regrading the areas around your foundation, adding extenders on the downspouts, etc. (These are fairly easy DIY projects)

If not, it's best to turn to a professional or someone with construction experience. Among the options are (you typically do a combination of 2 or more of these):

• adding drain tiles around the perimeter of the house (inside or outside)
• adding a sump pump
• tuckpointing brick walls to eliminate points of entry
• waterproofing the walls

Structural Issues -- Again, most of these require the help of a structural engineer or general contractor who has worked with basements. Check out:

• The condition of the foundation walls -- do you need tuckpointing, "underpinning," where concrete is poured under the existing foundation, or (the most costly), new foundation walls?
• The ceiling height -- most towns require at least a 7-foot clearance for a finished space. Check with your local zoning department. If your ceilings are too low, the options are to relocate overhead plumbing, etc. to make room or a costly project of having the floor dug out to add height.
• Electrical and plumbing systems -- are they up to code and able to handle added space? If not, you'll need to replace them as you finish the space.
• The stairs -- Believe it or not, an old set of stairs can dramatically impact a basement project. If you have to rebuild them to meet current codes, it might impact how far the stairs reach into the basement and your space on the first floor above it, as you need certain head clearance. This might force you to cut into the space above!

Costs -- Depending on the condition, expect to pay dearly for major structural costs. We just priced a major overhaul of a 100 year old basement in the Chicago area and it came in around $125 to $200 per square foot just for the structural fixes! Yes, about the cost of a pretty nice kitchen and family room addition.

• Landscaping changes -- $50 to $200 for grading, downspout extenders, gravel around the foundation to help drainage, etc.

• Waterproofing and drainage issues -- $2,000 to $5,000, depending on the remedy.