Hi ca69. I haven't read through all the comments but wanted to point out that my eye keeps getting drawn to the massive 'blank' space under the semi circle gable. As an Australian that has visited QLD alot I know the look you are trying to achieve but the front right of the house seems really unbalanced with the window so far to the right. What about one window centred on that wall or two windows the same size to give it symmetry? Also, might be good to look at light coloured colourbond roofing. Something like Dulux surfmist as the lighter colours reflect sun rather than absorb it and it is already hot enough up there. I would lose all the brick on the exterior and replace it with the coloured hardiplank composite - it doesn't need painting and is a composite rather than timber. Keep the colours lighter for eco reasons. I work for greenstar builders and lighter exterior colours in hot environments is becoming common building practice. Also look at painting your front door a red or lime green. There are pictures oh Houzz for inspiration.

The roof looks ok from the photos (no sag?) are they terracotta tiles? A pressure wash, reseal with clear and get the pointing re-done if needed- it will be brand new and cost you a fraction of what a new colourbond roof will. wuff- we've just replaced our very old iron roof with colourbond- the builder used roof blanket and batts- I seriously don't know when it is raining now (and our bed is build into a dormer and roof pitch!). I suspect the result is as quiet as tile, if not quieter. What is under the stucco? brick or fibro? I would probably just re-render in it's fibro. The cost of getting fibro (probably asbestos) off would be enormous! The cost of framing up for the weatherboards and the timber itself, equally enormous. The only advantage recladding gives you is the chance to re-insulate the walls. The rest is aeshetic, which could easily be achieved with fresh render in either of the colours you posted. Check out some of the new arcylic render texture-coats, they are almost maintenance free as the colour is in the render, this product is marketed as no repainting. You talk about the character of your area- your home contributes to that. Very few streets anywhere would have a uniform character. I love your cottage and can see so much scope to enhance it's character as it is.

I personally love the look of a Tudor style home but if you are looking for a more modernized american look I would suggest removing the trims and painting the entire house white. If your budget allows for re-cladding the roof or painting the existing cladding (maybe in a black or charcoal) that would help to modernize it as well. it would also give a dramatic contrast with the white and then add some navy or black shutters as well.

once you identify any structural issues and considered advice from an engineer but i suggest that the bricks were probably never meant to be exposed and the render was part of the structure...,is it a single or double brick wall, is there an internal framed wall, what about insulation? depending on the look you prefer it might be better to add external cladding eg corrugated steel or Scyon weatherboards to allow for an air space to improve insulation as well as weather proof the building after the wall is made structurally sound