Vinyl cladding or repaint

Views on vinyl? Cheapo and to be avoided or acceptable? Our IP is a 'decorator salad' of asbestos panels on ground floor, existing steel cladding upstairs about 20 years old and on three other walls it has weatherboards in three different profiles, a lot is rotted and all very badly peeling paint.

We are looking at a cost effective solution to unify and beautify and it is an IP in an area where there are new build homes with cladding as well as old Aussie battlers like ours!
 
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