I live in a single-story house with a basement built in 1965. Here's how it looks now:
Basement room with wooden panel walls, small window, radiator, and drying lines. A white object is on the floor, with cork tiles visible.
A small basement room with wood paneling, a white door, a wooden cabinet, a cork floor, and a portable heater, illuminated by sunlight.

Behind the wooden boards, there were wooden studs and styrofoam. Behind that, some plastic directly against the concrete, with remnants of some green fabric.
Exposed wall showing wood panels, styrofoam insulation, and green peeling paint on concrete in a 1965 house basement renovation project.

What would you put instead? Plaster? Steel studs and plasterboard? Due to the placement of the radiator above, there's not much space, about 3 cm to the concrete wall.
On the floor, there's vinyl flooring with chipboard underneath, so that also needs to be replaced.

Grateful for any possible tips and suggestions. What can we do ourselves and what should we bring in professionals for? I mostly have experience with renovations above ground :-)
 
I also have a basement in a villa from the 1960s. Regardless of what you choose to do, there must be proper drainage. Then it depends on what you use the basement for, storage or more for living in. I chose to tear out everything organic, have clean walls and floors that are either painted or tiled. I have an apartment in the basement, no problems with moisture. However, the floors get cold. The foundation is uninsulated, so underfloor heating was not an option for me. Good luck
 
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