Congrats on the new house and "new home"! I moved my sewing to the basement a year ago, and really enjoy it. I do keep the dehumidifier on for most of the year. My hubby installed two more ceiling fixtures for lighting and cut two vents into the duct work, so it is much more comfortable to sew. It's nice and cool in the summer, too. So far, with the dehumidifier running I have not had any problems with an off-smell down there. The fabric smells just fine as well. You will enjoy the ability to turn the lights off at the end of the day, and be able to leave things just as they are!
I have since set up a small table and extra machine upstairs in the living room so I can sew something while spending time with my hubby in the evenings. It does mean that corner gets tidied up at night, he's more of a neat-nick than I am.
Enjoy!