We made our plans. We got the permit (without it our home insurance would not cover any damage to the finished basement or caused by it.) Ask your town office what codes you need to confirm to. We sealed the wals. We then added frame and put in the rough wiring. Inpectors came. We used plywood panneling, those with a nice finish on one side. Covered the panneling with a few coats of latex based clear monothane (low fumes). It dryes very hard and water proof. We added molding s approrpiate. It looks very much like library panneling. We originally put down parke floor. Looked great but BAD IDEA, a flood caused the whole floor to bukle. It took us three extra months of weekends to clean that mess up. We then decided to paint the floor. Looks great. We etched the concrete floor first and used concrete paint. We used droped ceiling with very hansome 2X2 pannels. Looks great! We used flourescent lighting fixtures in the ceiling for when we need more light and floor lamps for mood light. Once finished the inpectors came for the last inspection. The only thing I would have done differently, other than not put in wood floor, is put in insulation on the walls next to the foundation walls. The room is a bit cold in the North Eastern winter. It would have also been an extra isulation inpection fee but I think it woudl have made it more comfortable in the winter.