An alternative would be to attach furring strips and hang regular drywall over the wall then finish it as needed.

Also, all your door and window frames need to be furred out because the walls are now thicker than their respective frames.

The exposed brick was not planned, the plaster wall & metal lath was crumbling and the furring rotted!

They nailed 1x2 furring strips to the bottom of the joists, and then used long staples to attach the tiles to the furring strips. 

However, if they then sell it 3 years later when the house is worth $475,000, they pay capital gains taxes on the $75,000 of gain.Now let's say your mom has this house and also several million dollars worth of furs, jewels, classic cars, stocks, bonds and gold stashed under the mattress.  

Now, they have two small dogs that shed a lot of fur and they chose to live in a house where 90% of it is carpeted.How would you handle them going forward, besides going over there more often than 6 months?

My houses use concrete block walls with furring strips nailed to then that then have the drywall applied on top of that.

(Good sound insulation, doesn't get eaten by termites, etc)If you're asking about how to make it look less "dorm room" then you simply can buy some furring strips (1x1, or 1x2) attach them to the C.Block with liquid nails or actual nails, and then go 1/2in drywall on the furring strips.

Just pretend you live in North Korea and the inspector is Kim Jung Un. 

The advice is appreciated and I know everyone has good intent.Mike, I hear you, an animal which one must successfully wax of its' fur without getting bitten - no easy task.