Steve was not a fan of the trundle bed idea. He said when it gets too crowded, that means it's time for someone to move out. He doesn't think we need to do that until we have another baby, though. However, I think moving out will be a LONG process, so we made the first big step today. We moved almost everything out of Emma's mini-room to make room for her new big girl bed. Apparently the crib wasn't a complete and total waste of money after all. I'll probably start putting her in there for naps for now, just so she can get accustomed to waking up in there.
As for the basement, here is Emma's new playroom
and here is my new playroom. Ugly, but functional.