Hi. I am new to site and investing but an old hand in construction. To consider: If you clad you will need to paint any way, and then re paint at some stage depending on quality of first paint job. Or you can clad in a PVC product. PVC advantages are it never needs painting, you dont need to touch the fibro (could be asbestos), pressure cleans well, is insulated. Cost is around $85/m2, get 2 or 3 quotes. Disadvantage is,  looks like PVC cladding, ie a little fake, better than fibro though. Hope it helps. ps: I do not sell the stuff.