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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.

Applying plaster to a wall will usually cost between $2 and $10 per square foot for both the material and labor. The cost will vary based on the quality of the plaster you’re using and whether or not prep work is required before the work begins. Wall prep can add up to about 10% to your total costs. Plastering exterior walls can be more expensive in many cases because they are taller and require scaffolding and safety equipment.

Water-damaged drywall should almost always be replaced. Not only does it look bad, it’s a breeding ground for toxic mold. Even if you think the area is dry and there’s no active leak, the only way to be sure is to cut out the damaged area and see for yourself.

Plaster that sags or bulges, shows extensive deep cracks, or is crumbling from water damage or simply time may need replacement. Plaster walls can look a little “worn” for a long time before they need replacing. The only real way to know if it needs a replacement is to hire a professional to assess the condition of the plaster.