When we moved into the house last May, we did not finish the basement for a few reasons. The primary reason was cost but we were also worried about going through a winter/spring with a foundation that we were not sure would allow water into the basement.
After enduring the record snow of winter and the record rainfalls of this spring, we are confident that our basement will stay dry.
We will be finishing approximately 800 square feet of basement which includes a bedroom, bathroom, office area, and living room.
Here are the "before" pictures: