I have a 1900's house with a dormer room finished with tongue and groove -24"oc joists (sturdy/secure, almost 1 inch thick) with weird tape on the seams and peeling paint (lead possibly) - it is off two bedrooms so I am converting to large closet space. Does this sound like an ok plan- 1)scrape peeling paint 2)apply with adhesive and screws, 1 inch rigid foam to all wall and ceiling surfaces (for moisture barrier) 3)apply 3/8 drywall (may have to fold or use 1/2 sheets as steps are narrow leading up :( 4)finish/texture if needed, prime, paint. Questions- a) Will the tongue and groove work like furring strips to help the drywall since it is secure or does the additional weight of the drywall cause problems? b) Shoud I screw into areas not on the joists or avoid them? c) If using half sheets of drywall 4x4 i guess it doesn't matter which way they go up -but shoukd I run them horizontally (perpindicular) if unfolded as joists run to the peak. d) center ceiling is only 5 foot wide 11 foot long will 3/8 be ok there if in the joists (no tongue and groove visable there but it could be under the existing masonite board they have up there)?

[left]In the process of closing on a house in a few days and thinking about a few of the repairs that are going to be needed. I’m clueless when it comes to home repairs so I’m looking for advice! While looking at the home we realized that behind the current wood paneling there is no insulation. The previous owners have pieces of normal squares of styrofoam behind the paneling. Our first thought was to rip the paneling down, put up insulation and then put drywall back up. Someone else had also suggested just putting up drywall over the wood paneling to save us some money and still better insulate the room. No idea which direction I should go. Thoughts are appreciated, thanks!Advice and suggestions are appreciated. Thanks![/left]