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Painting over wood paneling is an option that can save you money and time. However, if you go this route, the style and texture of the wood you paint over will still be evident. Painting over paneling is an excellent way to modernize an otherwise outdated aesthetic. Instead of removing wood panels, consider painting them a bright color–like white or ivory. This is essentially wainscoting, but without any of the required installation. 

One of the biggest downsides to peel-and-stick wallpaper is that it doesn't last as long as traditional wallpaper. Its lifespan depends on several factors, including the quality of the paper, proper wall preparation and application, and the room's conditions. As a general rule, peel-and-stick wallpaper can last for at least five years, but this can vary significantly. Budget products may only last about 3 years, while higher-quality products can stay up for 7 years or more in ideal conditions. Factors that can shorten its lifespan include high humidity (such as in a bathroom), dirty walls, and low-quality paper. If used on flooring, expect it to last only 1 to 3 years unless sealed. However, the shorter lifespan can be seen as a positive, making it a great choice for people who enjoy switching up their interiors more frequently.

Once again, contact with moisture is the culprit here, though water-resistant varieties of wallpaper are less likely to become wet and develop mold. Using a high-quality exhaust fan or dehumidifier and leaving the doors or windows cracked after bathing will keep this issue at bay. 

When comparing peel-and-stick and traditional wallpaper, the better choice depends on your specific needs and space. Peel-and-stick wallpaper is more budget-friendly and easier to DIY install. On the other hand, traditional wallpaper lasts much longer and holds up better in a wider variety of spaces, including areas with moisture like kitchens and bathrooms.