Mike:
I used a basement office for years, with no issues.
Take heed in what Reno says above....ground water could be your worst enemy.
A lot depends on your local building codes.....
I have seen quite a few 'finished' basements done up really nice. Home theaters, tile floors, nice bars, etc. The other end of the spectrum is quite a few (older homes) that had very serious flooding/water problems, causing extensive damage.
New homes; some are 'grade access' from the side or rear, some are 'one flight down'; a few come thru with seperate entrances, and roughing-in for sure looks like a 2nd kitchen....hence an illegal apt or 'two family'.
Good luck if & when you do it
