Weatherboard Repair v. Cladding Upgrade (VIC)

We have a 40-year old 2nd storey extension with weatherboard that is showing signs of peel/rot on some panels.

Initially, we just wanted to repaint and repair affected panels. But read that this could be a costly exercise in itself.

So now we're considering a complete upgrade away from timber to a more durable material for the long-term.

Anyone with tips to share?
• Is repainting/repair or upgrade more cost-effective in the long-run?
• How long and disruptive would replacement works be?
• Another consideration is that we'd prefer lightweight cladding, since the 2nd storey extension was built on an old house.
• Any recommendations for good trades in VIC, and places where we can view a wide range of materials? Am I missing any options:
-- colorbond steel
-- fibre cement
-- vinyl

Much thanks!

Hey, Yes check out https://eurowood.com.au/aluminium-fabri ... -cladding/
they offer lightweight aluminium cladding panels in a variety of applications and colours including timber look.
It lasts longer than timber and is easy to install too.