Paneling vs Drywall

[Larry Job]

Hello BP community. I need some help! I recently bought a little 720sqft lake house here in North East Missouri that I plan to live in for a couple years then sell. I paid $72,500 and it appraised for $88,000. I’m doing cosmetic updates throughout the house (floors, recessed lighting, cabinets, etc). Every wall is wood paneling, and I’m wondering if I should paint over it, or drywall this whole house. Verbal bid of $5,500 to drywall the house from my general contractor, but I’m assuming it will take more than that. Any advice would be appreciated, thank you!

[Michaela G.]

I have  midcentury Modern that was full of wood paneling. I painted white and it looks great. You can look in FB under Herschel Rehab. 

Since this is your private residence and it's very small, I would not spend the money on changing it to drywall. But I assume that this small cabin likely looks even smaller through wood paneling and painting it white would greatly lighten it up.