Painting Exterior of Older Home

Hi,
I'm going to look at painting my house exterior and would appreciate some feedback from members. The house was built in the 60's and the paint is in bad condition. My neighbors have their house covered in cladding as they said that they got tired of painting their house every few years and apparently the wood is Canadian and the paint here doesn't last on it. I'm thinking that wood is wood and they probably just never prepared it properly!

Here is a pic of the neighbors cladding.

I don't want to go down that road as it cost them around $5000 and I'm hoping to be able to paint this house myself for several hundred. If it can last for about 3-5 years it would be good as I would probably sell it in a few years.

Some of the boards have some rot or deterioration so that will be the hardest part, repairing or replacing them.

So the first question I have is can I use an acrylic paint for the exterior, will it last, how many coats will I need to apply and what is a good brand or type I should buy?

Also some tips on preparation and repairing boards etc would be good too thanks.

Here are some pics:

http://homerenovating.org/wp-content...09/DSC3881.jpg

http://homerenovating.org/wp-content...09/DSC3882.jpg

http://homerenovating.org/wp-content...09/DSC3883.jpg

http://homerenovating.org/wp-content...09/DSC3877.jpg

http://homerenovating.org/wp-content...09/DSC3880.jpg

http://homerenovating.org/wp-content...09/DSC3879.jpg

http://homerenovating.org/wp-content...09/DSC3878.jpg


http://homerenovating.org/wp-content...09/DSC3875.jpg

http://homerenovating.org/wp-content...09/DSC3876.jpg

http://homerenovating.org/wp-content...09/DSC3877.jpg


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