<smile> you're not giving us much to go on. Is this a new build and nothing (network-wise) exists yet?
What are the Internet service speeds that you will be signing up for? How big is the house? Is the living room relatively center to the house? Is the house an open floor plan? Are the walls the typical plasterboard?
And I think it's great you're dropping an Ethernet line into the basement!
Modem: I'd go with what the ISP vendor supplies. Makes trouble shooting easier.
Router: Pick a number. If your ranch is less than, say, 1500 sq. ft. then a single all-in-one wireless home router might well do the job. If it doesn't quite cover the basement you can always add that basement AP later.
- You could start with the ISP vendor supplied wireless router. Put the onus on them.
- Or buy your own. I do have an admitted bias towards Asus.
- I like their builtin Traffic Monitor. It's useful for troubleshooting or just learning. I can see how much bandwidth 4K streaming takes vs. HD. I was surprised at how little bandwidth Fortnite uses. I can even see what time my grandson goes to bed.
- I like that I can set up "guest services" for guests such that they can't see "family stuff".
- I had good luck with their QoS back when I had low bandwidth Internet. It kept everybody happy.
On the other hand if your ranch is, say, greater than 2500 sq. ft. you might want to start with a "mesh" system. Main node in the living room, a hard wired node in the basement, and a couple wireless nodes wherever.
And that's me, always with more questions than answers.