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When choosing materials for finishing basement walls, consider factors such as moisture resistance, durability, and fire resistance. Opt for materials specifically designed for basement environments, like moisture-resistant drywall or cement board. Insulation with vapor barriers can help regulate temperature and prevent condensation. Consider using mold-resistant paints or coatings. 

Research and consult with experts to select materials that are suitable for your specific basement conditions and intended use. Prioritize quality and compatibility to achieve long-lasting and aesthetically pleasing results.

You should always hang drywall from the top down. Starting at the top makes it easier to create a straight, tight line between the ceiling and the wall. Any gaps that occur will be at the bottom, where they are easier to manage. You can either cut the bottom piece of drywall to fit the remaining space or cover the gap with baseboard trim. Additionally, starting at the top is physically easier, as you won't have to fit the top sheet into a tight space between the lower sheet and the ceiling, or try to balance the upper sheets on the lower ones while securing them.

In many cases, installing new drywall will boost your home value. Replacing old, damaged, cracked, or wavy drywall is a great way to improve the look and feel of your home, as new drywall installed by a professional shouldn’t have any imperfections. Additionally, removing old drywall means you’ll have open walls, so you can install new insulation and address exposed issues with plumbing and electrical systems running behind the walls. All of these fixes will also add to your home’s value.

When used correctly, drywall patch kits can work well. However, there are limitations. Specifically, these kits can only cover holes up to 5 inches in diameter. For anything larger than that, you’ll need to cut out the affected section of drywall and replace it with a new piece. That’s a far more complicated process that involves buying the right type of drywall, finding the wall studs, cutting into your wall, and screwing the replacement drywall in place.