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Drywall installation is considerably faster and more affordable than plastering. Because plastering involves applying a wet material, it’s more time-consuming, takes longer to dry, and is more prone to cracking. It doesn’t tend to be as insulative either. If you need resurfacing work done on the walls, it's not unusual for the cost of plastering to hit $10 per square foot, which is much higher than the drywall installation costs of $1.50 to $3 per square foot.

If you’re looking for good soundproofing and want a high-end look in a historic home, though, plastering may be the better option.

Drywall mudding can be done in one day if the project is small and the desired effect isn’t too complex. If you need multiple layers of mud, one day may not be realistic. But a single room that requires little more than joint compound on the seams and screws can be done in a day or two.

You should wait at least 24 hours between each coat of drywall mud before sanding and adding another coat. This ensures the mud dries completely, although drying time depends on temperature, humidity, and the type of compound used. Lightweight muds dry faster, while heavier all-purpose compounds take longer. Always check for firmness and dryness before sanding or applying the next layer.

In most cases, no, you won’t need a permit to replace drywall. If you’re changing the floorplan of your home by adding or removing walls during the drywall project, then you might need a permit, but replacement or repairs usually doesn’t require a permit. Your drywall professional should be able to confirm whether or not a permit is required for your project. If it is, it’s likely to add between $50 and $150 to your total cost. Keep in mind that you will need permits if you plan to install new electrical wiring or plumbing lines behind your new drywall.