Before painting a basement wall or floor, the surface must be primed. Look for a primer that will also act as a sealant against water. There are several commercial brands of primer that are ideal for basements, and they will indicate they include sealants.
Oil-based paints typically work best on concrete, but you can find latex paint that is rated for use over concrete and masonry. Shop carefully and find a paint that can be applied in lower temperatures. Most paint needs a temperature of at least 55 degrees for optimal application, and the humidity level must be low. Basements can be much colder and more humid.
If you have a concrete subfloor in the basement and you plan to paint it, do not use regular latex paint. Instead, use a concrete epoxy paint. In addition to concrete epoxy paint being the proper kind of paint for concrete floors (it wears better), it will also have a nice shine to it, which will make the flooring look better. Make sure to ventilate the basement properly when using epoxy paint because the fumes are quite strong.
The most common issues with painting a basement are mold and water. You can combat some of these problems by installing a dehumidifier in the basement and by using the proper products. A good primer sealant will help reduce water seepage in walls. It pays to read labels when buying paint for a basement. Don't skimp on the right products, or you will likely have to do the job over again.