Most basements i know have concrete walls and its horrible for bass as it just washes and bounces all over the place and the standing waves are everywhere.
I would get some coring 703 or 705 insulation, some burlap, some thin breathable wood for the backs and some adhesive and proceed to make your own bass traps and acoustic absorption panels. Get the 4' X 2" 703 or 705 panels. I did the same for my
song mastering studio and it works very well.

Bass traps should be at least 4 inches thick and acoustic panels can be 2 inches thick. You can hang them every few feet depending on how the room sounds and bass traps can go on the back and front walls and corners, but hang them anywhere to get the best sound possible.