We have a house with 4000 square feet including a bonus room on the main level which has a pool table and TV area. This bonus room is the kids hangout. My son is almost 12 so he uses this room with his friends however, it doesn't have a lot of extra room for spreading out and playing for my daughter, age 8. I would like to create a space in the basement for playing, crafts and for the existing ping pong table, however, I don't want to spend a lot of money. The ceilings are 8 feet or less in the basement (DH didn't want to spend money on higher ceilings since we did the bonus room instead). Anyway, we've painted the concrete floor with sand beige concrete paint so it looks good and is dust-free. The walls are cement block but are covered with insulation from the builder. I think that the insulation should stay on the walls, is this correct? We have kicked around some different ideas such as having the ceiling pipes spray painted white and then just framing the walls and installing painted beadboard and molding. Then just placing area rugs over the concrete floor. We're not sure which direction to head or if we should finish it nicely. Since the kids already have a nice space on the main level, we don't want to put $30-50,000 into a basement like our neighbors are doing. Any ideas for a cheap basement finishing?