Climate is another factor to consider. Sunlight, wind, rain and salty weather can all wear out exterior paint. Oil-based paint is durable against wind, rain and temperature changes, but sunlight tends to degrade it. Alkyd paint chalks and sheds very thin layers when it begins to wear. Latex paint is the more durable option for very sun-drenched and relatively dry climate areas. Latex paint with high vinyl content should be avoided, however. Acrylic resin is by far the more durable binder for outdoor latex paint.
If you paint over dirty, oily surfaces, the paint will easily chip or peel off. So before painting, clean grimy areas with a deglosser or heavy-duty cleaner intended for prepaint cleaning. They work well to clean painted, varnished or enameled surfaces to improve the adhesion of the new paint. They’re ideal for cleaning greasy or oily areas like kitchen and bathroom walls and removing hand marks around light switches and doorknobs.
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With that said, here's the reality of that particular scenario. Painters do put water in the paint, but not for reasons you would think. Some materials need to have their viscosity manipulated in order to slow drying time, allowing gravity to 'smooth' out the product for a better finish. It also prevents 'drags' and 'sausages'. I personally try not to do it too often, but from time to time I have to. I want my client to have a proper finish.

The color scheme that is chosen for the home creates the initial impression that an individual has of the premises as a whole.  Whether complimentary or unflattering colors are selected, the house will gain an identity of its own when the paint is applied.  There are many times that a homeowner misses opportunities to accentuate positive attributes that the home has to offer by failing to choose the best exterior paint colors. 
Beginning with the prep work and ending with last coat of paint or the finishing, an exterior paint job will last anywhere from one to two weeks. After completion, homeowners using low-quality paint will need to repaint every four or five years to keep it well maintained; homeowners using high-quality paint can go longer without a new coat -- usually about seven or eight years, depending on the type of paint and material.

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