I think Steve is giving some good advice here. That home could be tricked up nicely.
I had one in Chadstone many years ago which looked very similar. The people I sold it to did a lot to make the front very federation looking, replaced the old steel frame windows (they are a bugger to get out) and it really lookls good. I'd be surprised if a few homes inyour area hadn't been treated in a sim ilar way and you'd only need to look around to get some good ideas.
You could use timber boards or even look at something like Weathertex Federation style boards. No rot, no warping, and only need paint to keep them pretty.