Water-based or latex paints are made with a synthetic polyvinyl material that is water soluble, allowing for easy clean up. Latex paints dry more quickly than oil-based paints and release less off-gassing odor as they dry. Their fast-drying properties permit quicker recoating. Latex paints are also more elastic than oil-based paints and, as such, are less prone to substrate cracking.

Oil paints tend to be more durable and resistant to wear and tear. Made with an alkyd base, they dry much more slowly than latex paints. Consequently, they produce smoother finishes since brush strokes and other discrepancies tend to disappear as the paint layer levels itself.

With all finish paints, the success of the final surface depends on the preparation of the wall or object being painted. It is common practice to prime a wall prior to painting; adding a few drops of the paint color into the primer allows for better concealment and coverage. Primers are also often necessary when changing from one sheen to another. Primers should be used for the following conditions: all uncoated surfaces, wallpaper, patched/repaired areas, paneling, stained areas, existing oil-based paint, and dramatic changes in color.

Stains, an alternative to paint, are color finishes that absorb into the material they are being applied to-usually wood. Stains come in a range of transparencies, controlling how much of the substrate remains visible once the stain is applied. Stains are unsuitable as finishes alone and need to be varnished to create a durable surface. Varnishes are transparent films and are available in several sheens.