Ask any home designer and they can vouch for the fact that the basement is the most under-utilized room in the house. Most homeowners believe that the basement is only meant as a room wherein to keep the furnace and laundry equipment. Some homeowners go so far as to use the basement as a storage room, but it is not a very popular option due the possibility of the basement getting flooded. However, numerous homeowners are realizing the potential that is locked away in the basements and are undertaking renovation projects to ensure that the basement is properly utilized. Homeowners, who are health and fitness enthusiasts, are particularly keen on basement renovations and see it as a way to incorporate a room in the house that helps them stay in shape. Waterproofing a basement and insulating it well are the primary steps in the basement renovation process. Once the waterproofing and insulation are taken care of, it is safe to start moving in gym equipment. Many people do not buy exercise machines because they can’t see where in the house they could possible store it. Renovating the basement allows homeowners to convert the basement into their own private gym. You can also install wooden floors to convert the basement into a dance or aerobics studio. Complete the look by installing a massive mirror on one wall.