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If you already have plaster walls and ceilings, adding new plaster costs $2 to $10 per square foot. For an average-sized room, that would come out to $1,200 to $10,000. However, the cost to replace plaster with drywall is higher—running between $720 and $1,250 for a 10-by-8-foot wall or ceiling (not including drywall finishing).

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.

In most cases, plaster repair will improve your home’s energy efficiency because a solid barrier of the insulative material helps keep conditioned air inside your home. Major plaster repair jobs like repairing large cracks or crumbling sections of plaster or applying a skim coat might make a noticeable difference in your heating and cooling bills. Not only can plaster repairs improve efficiency, but they can also reduce strain on your HVAC equipment, potentially saving you money on maintenance and repairs.

Drying alone can take 1 to 4 hours to dry to the touch per plaster layer, but some types of plaster take several hours longer to dry. However, this doesn’t mean the job is done because plaster doesn’t fully harden until it cures, which can take a few days to a couple of weeks. It may take even longer if you’re building a new, pretty thick plaster wall. Allow the plaster to cure before painting it.