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Yes, you can apply peel-and-stick wallpaper over wood paneling, but it requires significant preparation for a good result. Peel-and-stick wallpaper has a weaker adhesive than traditional wallpaper and works best on smooth, non-textured surfaces like painted or primed drywall. Because wood paneling is often textured with grooves, any flaws in the underlying surface will likely be visible after application. To prepare the paneling, you must ensure the surface is free of cracks, holes, and protrusions by filling any indentations and sanding rough spots to create a smooth surface. An alternative is to remove the paneling and apply the wallpaper directly to the underlying drywall or plaster, provided it is in good condition.

To pair a unique sense of style with white walls, keep them well-decorated. Hang vibrant art or bold furniture to add color to the room. Add some texture and greenery to the space with plants. Choose accent pieces such as throw pillows or light fixtures with patterns. Having a white wall can be a plus as it allows homeowners to easily decorate their homes as they desire without worrying about clashing with the paint color. 

It is less costly to paint than wallpaper when you only consider the upfront cost. Wallpaper costs $320 to $820 when applied by a pro, while paint only costs $200 to $700 per room. However, when comparing wallpaper versus paint, consider the long-term as well. Wallpaper can save you money over time since it has a much longer life span than paint.

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.