I would need to see the basement and the main floor. How high is the basement ceiling ? Are you planning the same style for the basement furniture as you have on the main floor? I think the use of the basement will aslo be an issue. I often do basements in a more relaxed style when they are used for media rooms and game rooms.

It depends on the home and how the space will be used, but in most cases wainscoting would feel overly formal for a basement IMO.

We are going to have a playroom, bar room, and living room with a fireplace. Also a full bath

Don’t split short ceilinged rooms in two. Not unless you’re going stained wood, and doing the dark jewel box layered Ralph Lauren look.

thank you all for the suggestions. If i didnt do wainscoting at all. What would you recommend for a fireplace surround? I am not doing a hearth but it is going to be centered on the wall in this picture separating the bathroom and living room. (bathoom is in the way back)

We like stone veneer, shiplap,etc