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Estimate of basement remodeling? DIY?

I was thinking about moving into my grandmas basement a year or so from now. But before I do that, I wanted to remodel the basement a little to make it of a more livable area.

What I was thinking was just putting up drywall on the walls and ceiling, soft padding under the carpet and then some decent carpet. And then some little things (that won't cost too much) that will make it a little bit more interesting.

Her basement is about 550 square ft. I live in Ohio and I was just wondering a rough estimate of how much that would cost. Thanks.

http://www.essortment.com/expected-price-much-basement-finishing-cost-45579.html

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