i am remodeling a basement into a hangout what can i do with it?

i have an old basement we are remodeling and i want it to be a really cool hangout spot me and other people can stay at. i need some ideas of what to do with it because i am clueless. it is a pretty big space maybe like 12 by 40 (it's a total guess) but i really need an idea fast!

View this post on my blog: http://madeinhome.info/i-am-remodeling-a-basement-into-a-hangout-what-can-i-do-with-it