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Yes, any parts of drywall that are wet or overly moist will need to be replaced. Drywall is intended to be dry (it’s in the name, after all.), as excess moisture can lead to mold and mildew and eventually corrode your home’s foundational building pieces. Do regular inspections in your home to make sure all your plumbing is intact and in good condition—this will go a long way toward preventing leaks.

You can put drywall mud over paint to even out the surface or entirely resurface it. Sand the surface with 280-grit sandpaper, vacuum the debris and dust with a shop vac, and clean it with a slightly damp cloth. Allow the surface to dry. Apply drywall primer, especially if you’re skim-coating an entire wall. Apply the right type of drywall mud over the surface and smooth it with a trowel. Allow the layer to cure fully, then sand it before applying another layer or painting it.

There are six levels of drywall finish, from 0 to 5, that refer to the amount of work performed during the finishing process.

Level 0: Drywall is hung with no finishing work.

Level 1: Tape is placed over the seams between drywall sheets.

Level 2: A thin layer of mud is applied over the tape and screw holes. This level is common for utility rooms or walls that will be covered.

Level 3: A full coat of mud covers the screw holes and tape, but the surface is not sanded. This is often used in garages.

Level 4: This is the most common finish for visible interior walls. It involves applying two coats of mud over seams and screw holes, with sanding between each coat, creating a smooth surface ready for flat paint.

Level 5: This is a high-end finish for luxury homes. It includes full taping, mudding, and sanding, plus a final skim coat over the entire surface before painting.

Whether Venetian plaster increases your home's value often depends on the buyer's preference. As a purely aesthetic upgrade, it doesn't add structural value in the same way a kitchen or bathroom remodel might. However, its beautiful and attractive appearance can make a home more appealing to potential buyers, possibly leading to more interest, higher offers, and increased competition when you sell.