What do i need to do to host a rock concert at my house?

im in a local band and all the members are 16 years old and have released a self made EP and we have sold 60 copies so far. what do i need to have a rock show in my house? we where going to play with another band too. i have a pretty large cement basment and we wanted around like 30 or 40 people. do we need to get drinks and stuff and what do i need to do in order to not damage my house? also if we had it in a drive way, what about the loudness and stuff? please explain everything i need to know to make a house concert