What is the best way to give a Paneled basement a fresh updated look?

Katy
by Katy
My husband and I are going to be updating our basement this year. It is dated - has a pool table I'd like to remove, along with lots of dark paneling. What is a fresh way, that is not too expensive, to freshen up the look? We live in a Ranch home, so the room we'd like to re-do is a good size.

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