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Whether to repair or replace water-damaged plaster depends on the scale of the damage. For small, limited areas, you can often perform a repair yourself. If you choose to paint over small patches, ensure the surface is completely dry and apply a coat of antifungal primer first to prevent mold growth. However, simply painting or plastering over the damage is only a temporary solution that doesn't address the core problem. For more extensive or long-term damage, the plaster may be compromised, and there is a risk of mold. In these cases, it is recommended to remove the damaged section of plasterboard and replace it. You may consider hiring a professional for the repair, and it's worth noting that water damage is often covered by home insurance.

Drywall insulation costs around $1,800, on average, but prices can range from $500 to $4,500, depending on a few different factors. The following things are important considerations to make when pricing out your insulation project:

• Square footage of insulation

• Type of insulation 

• Climate in your area and the insulation R-value required

• Whether or not your walls are already finished

• Accessibility of the area 

• Whether or not you need old insulation removed first

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.

You can paint over plaster, but repair any damage to the plaster first, or the paint will crack and bubble. You should also prepare the surface of the plaster to accept paint, which gives your paint job the best chance of looking good and lasting a long time. Before applying the color you want, apply a coat or two of primer. Additionally, use latex paint, and choose a latex paint with a satin finish for areas with dampness, like bathrooms.