It's been a while but we are finally restoring the basement after a flood a few years ago. We didn't want to take out a loan so it took a long time. It was the basement so there was no real hurry.
All the old furniture and carpet had to be removed and the cinder block walls underneath needed a waterproof coat of paint before the new walls could be put in. I bought two dehumidifiers to keep the basement extra dry to prevent mold.