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It is less expensive to install a drywall ceiling. Drop ceilings are generally more costly to install than drywall, but they're also easier to install. Drywall sheets are heavier than drop ceilings—weighing in at about 60 pounds each—so if you hire a pro, they may charge a little more for labor. You should also factor in paint costs for a drywall ceiling. The least expensive drywall ceiling option is the standard, smooth variety.

Whether you can reuse a drywall anchor or not depends on the type. Plastic expansion anchors and plastic self-drilling anchors, which expand once screwed into the wall, are single-use only. You can't straighten and reuse them after removing them from the wall.

Metal toggle bolts can be reused, provided you can successfully remove the toggle from behind the wall. Once you remove the bolt, the toggle often falls down and can be difficult to retrieve without removing the drywall.

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.

The amount of drywall you need for a 1,000-square-foot basement depends on the ceiling height, angles, number of doors and windows, and more. To find the wall square footage, multiply the width and height of each wall, minus any gaps from windows or doors, and add the totals together. You’ll also need enough drywood nails or screws to install the drywall correctly.