The purchase of a new puppy is one of the bigger decisions a family makes and one which should not be made on impulse or without much thought and knowledge.
Are you sure this is the breed for you? Have you been to a dog show to see the dogs there? Have you visited a breeder's kennel to see how they are at home? Have you checked out AKC's web page on buying a puppy? The breeders you will talk to will tell you about all the positives of a basset from being a super breed around children to the ease of grooming, but there are other things you should be aware of in addition.

Are you aware that a basset hound is NOT a small dog? It's a big dog on short legs. The average male may weigh anywhere from 55-65 pounds, sometimes more. The bitches are usually 45-55 pounds or so. And they all think they're lap dogs. And if you don't understand that at the outset, they will make sure to teach you.
Are you aware that bassets have a hound odor? They are clean dogs and "easy keepers" in terms of grooming, but the oils in their skin give them a distinctive odor. Some have more odor than others, and yes, it can get into your carpet. If that is potentially offensive to you, then this is not your breed.
Are you aware that they don't usually come housebroken -- you have to train them?
Are you aware that bassets shed? It's short hair, granted, but it still comes out when Spring arrives. Regular brushing minimizes the problem, but don't expect to have a shed-free hound.
Are you aware that they drool and can flip slobber on your kitchen cabinets from a great distance? Are you aware that they want to be close to you and that when they put their massive paws on your foot to get close or when they wag their tails against your leg it may not be comfortable?
Are you aware that these dogs are scent hounds? That means they want their noses in everything. This can include getting your dirty socks or shorts from your laundry hamper and parading them around your living room in front of guests you're trying to impress.
Are you aware that by placing their paws at the edge of your kitchen counter, laying their head on the counter and extending their tongue, they can reach to the back and consume the gourmet dessert you just made for your dinner party?
Are you aware that bassets are not full time couch potatoes? Like all breeds, they need their exercise. Remember that these dogs were bred for hunting, and while they're not fast on their feet, they are persistent hunters and should be able to go for many miles before tiring.
Are you aware that like nearly every breed of dog, there are genetic diseases and disorders found in the basset hound? George Padgett, D.V.M., a well-respected canine geneticist lists 67 of them in his new book, Control of Canine Genetic Disease. Some of these are seen rarely, others are seen more frequently. The more common problems include hypothyroidism, intervertebral disk disease, glaucoma, bloat, von Willebrand's disease, and hereditary thrombopathia.