Hooray! The wainscoting project is done! It's been a long process for sure, but I think the finished product looks great.
As a reminder, here's what the room looked like to start with. It's hard to tell from this picture, but that wall color was a greenish-yellow, both above and below the chair rail.
We started this project by painting the wall above the chair rail Mindful Gray by Sherwin Williams. Then, we painted white below the chair rail. We purchased moulding from Home Depot and made picture frame panels for the walls. We made 12 18x23" boxes, 2 6x28" boxes, and 1 7x23" box. We mitered the corners to form the frame with a saw and miter box. We used Liquid Nails to form the frames and adhere them to the wall. The boxes are space about 6" apart on the wall, with 3.5 inches above and below. Then, we caulked all of the seams with the wall and corners of the frames. One final coat of paint on everything... and voila, finished wainscoting!!!
We're really happy with the outcome. This is a classic example of a DIY project. You can save so much money by taking on a project like this in your home. By spending the time and labor to create the panels and put them all up, you will add value to your home and create a custom look.