Sometimes just a coat of paint can convert areas into new living spaces: basements, attics, and garages. But keep in mind that such spaces usually require special skills and knowledge about surface preparation—more so than for simple drywall surfaces. Otherwise, peeling, flaking, fading, bubbling, blistering, checking, sagging, or wrinkling can occur. So you'd probably do well to hire a professional painting contractor rather than tackle the project yourself.
Consider your basement. If it's dry and the heating and cooling ducts are in place, you have an excellent candidate for an easy conversion into living space. It probably has masonry walls of cinderblock, cement block, or concrete, all of which require careful preparation before applying paint. This includes scraping off loose or peeling paint, which probably contains lead if your home was painted before 1978, and that requires special health & safety procedures by law. This is another good reason why you should hire a professional painting contractor to do the job.
On the other hand, if the masonry has never been painted, it will likely be quite porous and require a high-quality latex masonry primer or sealer. All dirt, unbound sand, efflorescence, chalk, and remaining loose paint fragments need to be removed. Any loose or crumbling material must be cleaned out and patched with cement or mortar to create a smooth surface for the finishing coat. Seams and cracks must be sealed with a paintable silicon acrylic caulk. Mildew must be removed with a mildewcide for the finish coat to adhere properly.
In sum, a quality paint application of designer colors can convert your underused basement storage space into a den, play area, or guestroom that adds saleability and resale value to your home. And a Madison painting contractor can ensure that the project is successful, economical, and sure to last.