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Both plaster and drywall are durable wall finishes, but they differ significantly in installation, cost, performance, and aesthetics.

Installation & Cost: Drywall installation is faster and more affordable, typically costing $1.50 to $3 per square foot. It uses premade sheets, making it a more accessible DIY project. Plastering is a labor-intensive craft that requires specialized skills, pushing costs to $2 to $10 per square foot. It involves applying a wet paste over a lath framework.

Durability & Performance: Plaster is generally more durable, longer-lasting, and provides superior soundproofing. It is also a better insulator, which can help reduce energy costs. Drywall is easier to remove for future renovations.

Aesthetics: Drywall provides a smooth, uniform surface ready for paint or texture. Plaster offers a high-end, naturally textured look that can hide imperfections and is often preferred for achieving a classic or historic aesthetic.

Which is better? The choice depends on your priorities. Drywall is ideal for those prioritizing a lower upfront cost, faster installation, and DIY potential. Plaster is the better option for a higher-end project where durability, soundproofing, and a unique, premium finish are more important than the initial cost.

When choosing materials for finishing basement walls, consider factors such as moisture resistance, durability, and fire resistance. Opt for materials specifically designed for basement environments, like moisture-resistant drywall or cement board. Insulation with vapor barriers can help regulate temperature and prevent condensation. Consider using mold-resistant paints or coatings. 

Research and consult with experts to select materials that are suitable for your specific basement conditions and intended use. Prioritize quality and compatibility to achieve long-lasting and aesthetically pleasing results.

If the holes in the plaster are small, you can fill them with layers of patching plaster until they’re filled. After it dries, you can sand the plaster and paint over it. If the hole is much larger, consider using bonding plaster first and then a layer of patching plaster, completing the process with sanding and a layer of paint.

It doesn’t matter which way you lay drywall, and you can choose to install it horizontally or vertically depending on the size of the wall and how tall the ceiling is. It’s easier to lay drywall sheets vertically if you have a taller ceiling, but laying sheets horizontally makes it easier to apply joint compound.