Hi Shawn, Its commendable that you are considering your neighbours, also I might add protecting your own interest at the same time,as if guitar playing is heard outside by the wrong people your home becomes a target..I know a friend of mine who this happened to so its not fantasy.
There are a couple of ways however, it depends on the size of the room that you are going to soundproof...I overcame this problem very cheaply, I had a headphone socket in the amp which of course cuts out any exterior sound and would combine this with headphones from my CD so I could jam along with a CD with just the sound of an unamplified guitar. Whilst I could make my ears bleed if I wanted to. ha ha.
A bit of tweeking and you can get the balance almost perfect.
You can of course put old carpet on the walls and used egg cartons and dozens of other deals, but by far the best is the option above so cheap and so effective, and no change or extra work to your room....If your amp doesn't have a headphone socket, I am sure the tech guys from the manufacturer will send a schematic on how to fit one if you request its a fairly simple job.
Hope this helps you
Fenderphil.
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