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Smaller is better when patching holes with spackle. Any holes wider than four to six inches in diameter tend to be too wide to repair with spackle alone. You'll likely want to patch bigger holes with a drywall panel. 

Even holes measuring up to 6 inches may be challenging to fill with spackle alone. For best results, purchase a wall repair patch made from wire mesh. Cut the patch to fit over the hole, then use the spackle to hold it in place. Apply the spackle over the patch as you would for a smaller hole.

While it is possible to repair minor plaster cracks or holes yourself, it is generally not recommended for larger jobs or if you want a professional result. Plaster repair can be difficult in practice; proper wall preparation and achieving a smooth, seamless finish that blends with the existing wall requires experience, especially on textured surfaces. Hiring a professional ensures the repair will be durable and last longer, potentially saving you money over time. A pro can also determine if the cracks are from normal expansion or a more serious underlying issue.

Although they have similar applications, spackle and joint compound are not the same. Their primary differences lie in their composition, consistency, and ideal use cases.

Spackle is composed of gypsum and binding agents, making it thicker than joint compound. It dries quickly and is easy to sand, which makes it ideal for small wall repair projects like filling nail holes or patching minor damage.

Joint compound, also known as drywall mud, consists of limestone and gypsum. It is primarily used for large-scale projects, such as taping and finishing the seams on newly installed drywall. It tends to shrink more than spackle and can be more difficult to spread.

While both products can be used to fill small depressions and cracks, spackle cannot replace joint compound for taping and mudding new drywall. Conversely, you can often use joint compound for small patching jobs typically done with spackle.

The cost to repair a ceiling after a water leak can vary, with averages ranging from $419 to $1,359, or $45 to $55 per square foot. Smaller patches may cost around $150. The final price depends on the size of the affected area and the extent of the damage. Remember that you will also need to repair the source of the leak, such as roof damage or a plumbing issue, which can cost an additional $200 to $1,550. Depending on the situation, you might also face costs for repainting or repairing floors. For an accurate estimate, it is best to get a quote from a professional.