Yeah, I did that last June. Lots of paperwork involved, isn't there? It is nice though - I have a room in the basement that I'm getting prepped to be the Lego room!
Just don't do what I did and try to speed-paint 3 rooms in a 100+ degree heat wave with only a cheap (and woefully underpowered) window AC unit... I pulled half the muscles in my back, but damned if I didn't get those rooms painted! Then I got to sleep for 36 hours after the doctors gave me the 3 V's (Vicodin for the pain, Valium to relax the muscles in my back, and an enforced day of Vacation because the two meds knocked me out cold for 36 hours).
i wish the basement was large enough for a dedicated Lego room, its only about 120 sqft. basically, it started as a dirt cellar and the previous owner put in a concrete floor and cinder block walls. its only large enough for the water heater and the furnace
although, i might dig out more later on, even if only to be able to reinforce the stone foundation and add storage space..
i will use the sitting room/bedroom outside of the master bed room as my lego room. just gotta get rid of the shag carpet first, eww. well, that and rewire the house, lol. the lego collection will be one of the last things i move over, i might need to rent a u-hual for that, lol.