Do It Yourself Basement Finishing System

Scrub the basement walls and floors with soapy water and let them dry for several days.

Seal fine cracks with a bead of silicone caulk. Squeeze the tube of caulk along the crack and flatten it with the tip of your finger.

Paint on a concrete sealant paint over the surface of the walls and floor to keep ground water from seeping through. Use a paintbrush for concrete blocks, since they are rough. Paint smooth surfaces with a paint roller.

Measure the height of the ceiling and cut ridged foam board to fit the length. A knife will easily score the board so that you can snap off the unwanted pieces. Squirt construction adhesive on the wall and press the boards in place. Fit each panel up against the next.

Seal seams between panels with silicone caulk. Seal the top and bottom of the boards as well. Squeeze the tube as before to create a bead, then flatten it with your finger tip. Repeat with the other walls in the basement.

Measure the length of a wall and cut two 2-by-4s to the measurement with a circular saw.

Measure the wall from top to bottom and subtract the 2-inch side thickness of both boards from the measurement. Cut stud beams to this measurement.

Place the boards on their 2-inch sides parallel to each other and space them apart. Set the stud beams in between at a perpendicular angle. Drill 3 inch screws through the top and bottom boards and into the studs.

Raise the built frame up and set it against the wall. Attach it to the ceiling and floor. Use masonry screws on the floor. Repeat with the other walls in the basement.

Drill drywall to the studs of the walls and the ceiling joists. Hang the drywall horizontal and drill it to the studs with drywall screws. Cut it to fit it when needed, using a knife.

Spread drywall compound to the seams between the drywall panels and over screw heads. Press drywall tape into the compound and then cover it with another layer of compound. Let it dry for a day.

Sand the mud smooth and add another layer. Feather it out on the edges to level it out with the panels. Let this dry another day.

Paint the walls with an acrylic-based paint. Prime the walls first, let it dry for a day, and then apply two coats of paint. Use paint brushes along the bottom and top edges and paint roller for the walls. Make long, even paint strokes. Paint the ceiling with the same color or use a neutral white for variation.