Kennith & Son                 

Veteran Performance, Family Man Style

Since most homes have drywall it's safe to assume that eventually a hole will get knocked in a section, a water leak may damage and expand an existing area, or a whole section may be cracked from a natural disaster of some sort.
If anything occurs that leads you in need of repair then, it's a matter of the size of the damaged area that will determine the course of action.

Patching, is a very common in repairing drywall.  Typically, If the size of the hole 1"-2.5" then it should be patched, using a self-adhesive patch kit.  Consider that if the hole is less than 1" then you can cover it with joint compound or Spackle.  Usually, this kind of repair is due to dents from things bumping in to the wall or holes from hanging items.  If it is larger than 2.5", I would recommend replacing the a section of drywall.  Keep in mind I don't mean a whole sheet but, a square diameter about 1-inches from the sides, top, and bottom of the hole.