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I have seen this term many times in this forum !
Since I am in Australia this term is not used here !
So what is an "unfinished basement" ?
As compared to a "finished basement" ?

:whistling2:
 

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Just what it says.
One would just have exposed concrete or block walls, slab or even dirt floor, exposed floor joist.
Finished in most cases would have drywall, some form of finished floor and a real ceiling.
 
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