Here is a view of the right side of the basement. You can see how the walls looked before we put the panels up. We also fixed that window leak, can you see all of that grey haze running from the corner of the window to the ground? That would be where the water leaked, not anymore! Well we hope.
This is the left side of the basement. The house was built a while ago so the space from the floor to the ceiling is not that tall, to pass code we needed at least 6' of clearance so we were not sure about a traditional drop ceiling. The ceiling tiles would have been pretty close to the joists which would make it hard to push a tile up and out. We talked about a million options and finally compromised and decided to do a ceiling grid that attaches to the joists and the tiles clip into the grid. I said that I wanted flat tiles with no ripples etc so they look the most like drywall, which is what I would have preferred on the walls and ceiling.