The renovation is basically no problem. It would be important to know whether the basement is dry, or if the condition of the structure is poor. Fundamentally, heating, plumbing, and electricity are involved. These should urgently be completely redone. If you are living in it, no one does that anymore...
In addition, windows, doors, and the roof are major factors. Also, sensible insulation.
If you have no experience at all, you have to pay someone who has the expertise. Planning and implementation should not be underestimated. But it is definitely possible.