Walls and Ceilings - Wood Paneling

I currently have drywall throughout my dinning room. I would like to replace the drywall with wood paneling to give my dinning room a more formal feeling. My question is, 1) Is that possible? Being that I live in a townhouse. Also, would I have to tear down the drywall, or can the wood paneling be placed over it? I am not planning to do this myself, and I know you have limited information about the size of the room and particulars on the wood. But would this be a very pricey procedure

just trying to do so homework,

DryWall

You can cover the drywall with paneling. In fact it is good for sound insulation and fire protection. Use a stud finder and label the locations of the studs. Nail the paneling through the drywall and into the studs. Use nails that are 1/2 to 5/8 longer than you would normally use.