Tile has a reputation for being permanent, which is exactly why people agonize over it longer than they agonize over almost anything else in a house, and I think that caution is mostly earned. Wallpaper carries the opposite reputation, that it is fussy and temporary and liable to peel at the first humid summer, and that one I think is mostly out of date. Panels sit in the middle, judged by whoever installed the last set badly.
The honest limits matter here more than with most things you buy for a house. Tile in a small, low ceilinged bathroom can make the room feel like a cell if you go too dark or too busy, and a floor tile that is beautiful in a showroom can be miserable underfoot in a kitchen where you are standing for twenty minutes doing dishes. Wallpaper is the wrong call anywhere that gets real steam without real ventilation, and panels over uneven old plaster will show every dip in the wall once the light hits them sideways.
As for color and finish, the ones that stay easy to live with over time are the quieter ones. A matte or honed finish forgives water spots and footprints in a way high gloss never will. Warm white, soft gray, and the kind of clay or stone tones that read as natural rather than trendy tend to outlast whatever is fashionable the year you buy them. Bold patterned tile is wonderful in small doses, a shower floor, a backsplash, but think hard before committing a whole kitchen floor to something you will tire of in three years.
How these age depends almost entirely on quality at the start. Good ceramic tile and a well hung panel will look the same in year ten as they did on install day, aside from the honest wear you would expect. Cheap versions show their age fast, grout discolors, panel seams gape, paper edges lift. Reseal grout every year or two, wipe panels with a dry or barely damp cloth rather than anything abrasive, and never let standing water sit on either.
The day it arrives, open a few boxes and check the tiles are the same batch number and actually match in tone, since dye lots can shift more than anyone admits. Run a hand along panel edges for warping, and unroll a length of wallpaper to check the pattern repeats cleanly rather than leaving an obvious seam. A few minutes checking now saves a much longer argument with an installer later.
Whatever you choose, clean it with plain water and a mild cleaner, not vinegar or anything acidic, which eats away at grout and finish faster than ordinary wear ever will.