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Deciding whether to repair or replace drywall can be tricky, but your top considerations should be the extent of the damage and what caused the damage. For instance, if you need to repair a small hole caused by a doorknob that hit the wall, you can safely patch it without a second thought. However, if you have significant drywall damage caused by water damage, it’s best to thoroughly remove the drywall to inspect and repair the pipes behind it before replacing it.

Before drywall came on the scene, plaster was the material of choice for interior walls. While drywall may be the more cost-effective choice in many cases, plaster may suit your aesthetic preferences better. Plaster walls also tend to last longer than drywall, and are more energy efficient, as plaster has superior insulating properties.

Drywall installation is considerably faster and more affordable than plastering. Because plastering involves applying a wet material, it’s more time-consuming, takes longer to dry, and is more prone to cracking. It doesn’t tend to be as insulative either. If you need resurfacing work done on the walls, it's not unusual for the cost of plastering to hit $10 per square foot, which is much higher than the drywall installation costs of $1.50 to $3 per square foot.

If you’re looking for good soundproofing and want a high-end look in a historic home, though, plastering may be the better option.

It doesn’t matter which way you lay drywall, and you can choose to install it horizontally or vertically depending on the size of the wall and how tall the ceiling is. It’s easier to lay drywall sheets vertically if you have a taller ceiling, but laying sheets horizontally makes it easier to apply joint compound.