What to do with thick wood walls?
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Sounds very 70s, I would remove it, put up drywall and paint.
Myself, I feel that painting it fresh'n the room and makes it bright and happy, a white or an antique white, cream, depending on the colours in your house, and having 2 kids in their twentie, they both like a light fresh clean look.
And I would leave it. A feature wood Wall is popular. As they say, what is old is new again. Your choice, of course. ☺️
You could always offer a painting allowance at closing if the wo is a deal-breaker!
I think it depends on the room and how much is covered by the wood also how dark or light it is in the room. If you feel it needs lightened you might try like a white wash, because feature walls of wood and reclaimed wood are well liked as long as not to much or to dark. Seems to me.
In a selling situation, it really depends on your housing market. In my housing market, a wooden wall is unusual and would be a selling feature. Check with your selling agent, they are usually the best source for that type of location specific information
Wholeheartedly agree with Christine Schwartzberg. Ask your agent!
I would absolutely have the wall covered with drywall and painted.