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A plastic vapor barrier should completely cover your basement to prevent water from penetrating through the walls. This typically goes before installing insulation to prevent moisture from building up and becoming trapped on the inside of your insulation, where it can collect and lead to mold damage. Installing insulation after the vapor barrier allows for any moisture to exit the walls for better ventilation.

Installing insulation helps reduce energy usage, improve home comfort, and lower utility bills by maintaining stable indoor temperatures year-round.

Natural fiber batts and spray foam insulation both work great for soundproofing. Newer materials, such as hemp batts, are more expensive but more effective for insulation and sound blocking. They are also more sustainable. There is also a professional system called Blow-In Blanket Insulation (BIBS) that is soundproof and moisture-resistant. However, BIBS must be installed professionally and can be a costly investment.

The best type of attic insulation depends on where you live, your budget, and what stage of construction the attic is in. For example, if you're building a house, then structural insulated panels are a worthy investment since they're easy to install during construction and they're the most energy-efficient type of insulation.  

Additionally, if you live in a very warm climate, then you can potentially save quite a bit of money by opting for reflective insulation, which is more affordable than comprehensive insulation but doesn't work well for cool climates. Blown-in, loose-fill, and spray foam insulation are all great options for attics in moderate climates.