You'll save money if you do your own repairs.
One good thing about drywall is how quickly it installs to provide a smooth flat wall for painting or wallpapering. The downside to drywall, however, is how easily it cracks when the foundation settles or how it breaks upon impact. Made from tightly compressed particles of gypsum, drywall is the standard material used in the construction of interior walls. The cost to repair damaged drywall depends on the extent of the damage and whether you can do the repairs yourself.
Small Cracks
Small hairline cracks in drywall are common, and they usually appear above doors and windows where the wall framing is the weakest. If the crack is less than 1/4-inch wide, you can repair it with minimal expense. You'll need a small plastic putty knife, spackling and a drywall-sanding pad to smooth the spackle into the crack and sand the drywall when dry. Materials and supplies to fix a small crack will run around or under $15 as of 2011. Paint will be an extra expense.
Larger Cracks and Holes
Larger cracks and holes are more expensive to repair because you'll have to remove the section of damaged drywall and install a new piece. Drywall panels sell in 4-by-8-foot sheets and in varying thicknesses. As of 2011, a 1/2-inch thick drywall panel costs approximately $7. You'll also need drywall nails or screws, joint compound, drywall-taping knife and joint compound.
Water Damage
Water damage to drywall creates a brownish stain that can bleed through paint to discolor the wall. The first thing to do is fix the water leak and then assess the extent of the damage. If the drywall is still flat, showing no bulging, you can apply one or more coats of stain blocking sealer and then repaint the wall. A typical gallon of sealer costs around $21. If the surface of the wall isn't smooth, however, treat the damage in the same manner you would a large crack or hole, by cutting out and replacing the damaged section.
Labor
Labor charges are the biggest cost when repairing drywall. Always ask for an estimate before hiring a contractor to fix the damage. Unlike some construction repairs, a drywall contractor may have to make three or more trips to your home during the repair process, which adds substantially to the cost of repairs. The contractor will apply joint compound to the seams surrounding the new section of drywall, but the compound must dry completely before the contractor can sand it and apply two or more thin coats to the seams. If your contractor charges a set fee every time he visits your home and then an hourly fee afterward, the cost can add up quickly. Labor charges vary widely depending upon the skill of the contractor and the demand for contractors in your area.
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