I just purchased a 100 year old home with an unfinished basement that I'd like to clean up and use as a more livable space. The house has a history of water around the foundation and seepage in the basement, which can be seen by the effloresce on the walls and some damage to the mortar. I'm in the process of having gutters installed, and the area around the house properly graded, to help mitigate this in the future.
I'm completely new to this sort of thing, and the home inspector told me I could simply remove the efflorescence using a wire brush and then paint the walls with a waterproof, sealing paint. As I've done more research it seems the correct approach would be to remove the existing paint (there are maybe 1-2 layers from what I can tell), patch the cracks and holes in the mortar, and then apply the waterproof sealer to the bare blocks. Removing the paint myself seems tedious and time-consuming so I'm considering hiring a sandblasting company to remove the paint, then doing the patching and painting myself. For what it's worth I'm also planning on hiring someone to do a concrete overlay to smooth out the basement floor. I'm okay with having exposed brick walls, and I'm not planning on covering them up with drywall or anything like that.
The area around the furnace has some of the worst damage, and this is after I already removed much of the efflorescence using a wire brush attachment for my power drill. Someone previously painted a few of the walls, but I don't believe it's a waterproof/sealing paint so I'm probably going to have to strip and paint the entire basement. It's a relatively small basement and there are a few other spots with efflorescence but this sums up what it looks like for the most part.
Am I on the right track here? Any advice for how best to approach this project? Thank you in advance.
Edit: A few folks pointed out the patching around the perimeter of the basement floor - there is no sump pump, and as far as I'm aware there is no existing drainage system.
Edit 2: I should probably clarify what I mean by livable space - we aren't planning on putting down carpet, furniture, or making this a TV room or anything like that. I would like to make half the basement into a small home gym/workout space (with concrete/rubber flooring), and the other half put up shelves for storage and have a deep freeze or second fridge. On the other half of the basement (not shown in photos) we were hoping to add a second full bathroom, but that was a more long term plan.