You certainly
can setup a data center in your basement. Would I recommend it?
No. A data center isn't something you just go out and get. It's an extremely intricate and delicate room, that needs constant attention and a sizable investment. I have experience with infrastructure analysis for large corporations - specifically relating to data center design and maintenance - and I can tell you that this is not something you want to put in your home. There power demands alone will be huge - not to mention the room will be very noisy (or at least it should - if you are cooling the room properly)
I have no idea what you want to put in your datacenter, how many racks, servers, etc. Regardless, if you plan to run a professional datacenter, you will need to investigate the following things (and much much more). There are different tiers of data centers (basically different standards) which will define your cost.
- Raised Floor (for cooling, electrical and data distribution, etc.)
- Cooling
- Redundant Electrical Connections
- UPS, Generator with EPO (Emergency Power Off)
- Water bugs, temp sensors and other environmental controls
- Reliable and redundant wan providers (a DSL connection just won't cut it)
A typical residential basement is a very poor choice of location since they are prone to flooding and humidity issues - which would be a major problem. The equipment costs alone will be in the tens of thousands of dollars (if not hundreds depending on the size of the data center you're looking to build). Monthly costs would include utilities (mainly electricity) and WAN connections (which would typically be thousands of dollars per month) Many big providers like Verizon, AT&T, Qwest, etc. would not be willing to provide a dedicated circuit to a residential endpoint.
Again, a data center is not something you just go out and buy. It's something you have to design, install, and maintain - typically with a team of consultants, technicians, and other vendors.
I would strongly advise against installing a data center in your home as it would turn out to be a very risky investment which would require a very long-term commitment.
However, if by data center you are referring to one A/V rack in a closet to serve your home for multi-media - then by all means - go for it.
Hopefully, my response helps you a bit with the details and intricacies that go into the design of a data center. I don't want to trivialize your idea - but I just want to help you put it into perspective. If you have more specific questions regarding data center design, I could certainly help you out.