wood panel vs drywall

[DJ Cummins]

if an entire house has that old wood paneling,would the arv of ripping out and deywalling be worth it?

[Patrick Hepner]

While it would add value, you have to consider that the paneling might be there for a reason.  I bought a house that had paneling that I wanted to remove.  I took one panel off of the wall to see how the plaster underneath was holding up: it wasn't.  Also, with the difference in thickness between panel and drywall, trim, baseboard cuts, heating/cooling vents, etc. may need to be readjusted or replaced as well.  It is a lot more work than it sounds if you are doing it yourself.

All that and I didn't answer the question.  I guess I would think you'd clearly improve  value without spending all that much money, but time & effort are the variables to consider to truly determine if it is worth it.