Lots of homeowners dream of using that extra space in the basement for a game room, a home theater, or entertaining space; but it’s important to correct any moisture issues first. In other words, stop the leaks before you make improvements.
You can tell if moisture is coming into the basement by taping a piece of clear plastic to the wall or floor, and watching it for a few days. If you see condensation develop inside the plastic, you’ve got a moisture intrusion problem.
Even if there isn’t a big problem, it’s still a good idea to seal those masonry walls and floors with waterproofing paint. Before you apply the coating, the surfaces should be dry and clean.
If there is any chalkiness on the surface from past leaks, it should be scrubbed off with a wire brush, so the paint will have the best chance to stick.