Exterior walls are afflicted with two modern menaces; cement-based pointing and waterproof paints. Both are relatively cheap to apply, make a building look 'smart', but can cause major problems and cost a fortune to remove. Textured exterior paints can hide a multitude of sins, but they also trap damp, and spoil the look of most houses.
These comments apply to any paint product (except for lime washes) applied to non-cavity walls, although walls with cavities may experience some of these problems. Porous stone walls are also at risk.
The arguments against such products are:
If the reason for painting a house is to hide poor pointing or shabby rendering, then either repoint (with a lime/sand mix and to the original style - typically flush, not weather-struck), re-render (again with a lime/sand mix), or else use a lime-wash or lime-based paint.
If your house is already painted, what are your options?
The counsel of perfection is to leave exterior wall paint to erode naturally; the effect of rain, frost and wind will in most climates be a gentle process and cause no collateral damage. In practice, this will take some years and during this time there is a higher risk of other problems.
A balanced objective is to minimise the risk of damage - from the product and the removal process, to restore to the original appearance, and yet to preserve the aged appearance. For example, if we remove the paint, we must do so in the most careful manner, and avoid damage to the bricks.
When shabby, cracked, flaking or peeling, you can remove any loose paint, and repaint. If the long-term plan is to remove the paint, use a lime wash to fill these gaps.