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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.

If you're comfortable hanging drywall yourself, you may be comfortable finishing it. But it's worth noting that finishing drywall adds several steps to the process and a lot of waiting time. Hiring a drywall installer may be the way to go if you'd rather spend your time doing other things or are nervous about leaving a rough surface.

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.

While it’s most common to sand plaster dry, it is possible to wet-sand plaster, too. Doing so can reduce the amount of plaster dust released into the air and make it easier to work in smaller, more delicate areas (such as around wall trim). However, some people find that wet sanding leads to more imperfections, which is why larger walls are more often dry sanded to ensure an even finish.