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Cedar clapboard siding has pro's and con's just like any other siding material. Beautiful natural color if left natural (sealed- or highlighted with stain), if painted, it gives a smooth finished appearance. But depending on the age of the siding it may have other quirks. Most siding manufactured today is treated with a fire resistant chemical. This chemical leaches out over time and loses it effectiveness. That leaching also effects the adhesion of the paint. In order to maintain the effectiveness of the fire resistance- it must be reapplied ever few years. Doesn't work very well when applying over paint. As far as sealing/staining, how much prep time you put in will determine the rate of re-sealing and the exposure of the house to the sun. I definitely don't recommend using a pressure washer on cedar (it is a softwood), it can be damaged easily. There are products on the market that are designed as a wash for wood. Spray-on with a pump sprayer, and wash off the hose (like those used for wood fences).
Cedar siding is also just as vulnerable to rot as any other wood. If it constantly bombarded with moisture- or moisture finds a way to penetrate painted cedar (which will hold the moisture for an extended period of time) it will rot. The odor of cedar is what makes it naturally resistant to insect infestation. Probably one of the most endearing qualities of cedar siding (at least to the craftmen that install it) is its stability- nice uniform size and straight.
All-in-all, cedar siding has as much, if not a bit more maintenace than any other.
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