A basement is a space located below the main floor of a building, often used for storage, utilities, or additional living areas. It is typically accessed by stairs and can be partially or fully underground. Basements can help with insulation and energy efficiency, as they maintain a more stable temperature compared to above-ground spaces. Many homes have basements that can be finished to create extra rooms, such as bedrooms or recreational areas. They may also house essential systems like furnaces, water heaters, and electrical panels. Proper ventilation and waterproofing are important to prevent moisture issues in basements.