Small holes need to be patched on both sides of the wall. On the interior side, fill the hole with expanding foam insulation. This foam is available in a spray can. Shake the can thoroughly, and hold it upside down while spraying into the hole for the best results. Cut the foam down after it hardens, and then use joint compound to cover it. Sand down the compound, and then prime and paint the area. For the exterior side of the wall, fill in the hole with expanding foam, and then paint it to match the exterior color of your home. If the wall is made of masonry, use a small amount of mortar to cover over the foam patch.
Masonry homes last a long time, but they crack under settling stress. If you own a masonry home, keep a masonry patch kit on hand. You can purchase a kit at most home improvement stores. Fill the crack with the waterproof masonry mix and a trowel. Let the mix set until it is hard to the touch. You can typically paint over the patched area within two weeks, but follow the manufacturer instructions.
Basement walls and interior walls that are made of concrete will occasionally "weep" when the humidity level is high or after excessive rainfall. This is normal, but it can be fixed by applying a waterproof concrete sealant to the interior side of the wall. Apply one coat, and let it set for eight hours. Apply a second coat to ensure that you did not miss any spots. Keep the windows open when you use this sealant; it produces noxious fumes.
Call a contractor if an exterior crack is larger than a few inches or if your home appears to be settling unevenly, for example, your porch is leaning porch or your house looks uneven. Your house may have foundation issues. Another serious cause for concern is if water is pouring into your home through an exterior wall. Small leaks are normal and fixable, but large leaks should be handled by a professional.