Ray wrote:

In Actual fact, this area may never be used as a kitchen.... I only
show this as a possibility in my drawing. I have put in the plumbing
and wiring, but as long as I live here there will be no basement
rental. If I get a "failure to Launch from one of my kids, I would
just put in a strip of tile along the back of the kitchen.

You may have already thought of this, but there is a product called Allure
TrafficMaster Vinyl Flooring that you may want to check out. Here are a few
videos about it:
http://www.youtube.com/watch?v=C4ztVIOwKuo
http://www.youtube.com/watch?v=kTH9102E7qk
http://www.youtube.com/watch?v=tS9zkbySzNw

The flooring strips are made of all vinyl which means that you don't need to
worry about water damage. The strips actually stick to each other along the
overlapping edges, rather than clicking together like regular laminate
flooring. But, it is a complete floating floor and isn't adhered to the
subfloor underneath. I have some samples that I got from a Home Depot
demonstration that I attended as part of a recent real estate investor group
meeting in my area. It's just a thought in case this option is of any
interest to you.

Also, you mentioned that the basement may one day end up being a rental unit
or a "failure to launch" space for one of your kids.

You probably already know this too, but for any sleeping area in a below
grade space such as your basement, you have to have the proper means of
egress directly to the outside from any sleeping area room. That could be a
door leading directly from the room itself to the outside, of course. Or,
it can be an egress window -- as long as it meets the size, height from the
floor to the bottom of the window, etc. egress window requirements.

And, finally, if you are finishing the basement yourself or with
contractors, including adding a bathroom and/or kitchen etc., and you later
decide to sell your house, the buyers most likely will require proof that
there were permits taken out for all of that. The permit issue is your
call, and it is certainly the proper way to go, but I wanted to mention it
since the lack of a permit often holds up or kills a future home sale.