Cracked and peeling paint can become a real eyesore, leaving the outside of your home with noticeable blemishes which can make it look worn down. If you have peeling paint on the outside of your home it should be dealt with it right away, as it’s a problem which is only going to get worse with time. Once paint starts peeling it becomes a much faster process and can lead to other issues.
It is recommended that you have a professional to take care of prepping paint, especially for homes older than 1978, when lead paint was discontinued.
First, you have to get rid of the problem areas. Chip the peeling paint away lightly, and test as you go to see if the paint is ready to begin peeling in other places. If it seems like a problem might come up, better now than later, so chip that peeling paint away and rid the wall of its flaws.
The second step is to sand around the areas where you have chipped away the paint, to leave a smooth surface which will take well to being painted, without beginning to peel again. Try to make it smooth enough that you won’t see a line under your new coat of exterior home paint.
The final step is simply to repaint the wall. You may spot treat the affected areas, or prime and repaint the entire wall, which I think is the better option. It may be more effort now, but will save you having to deal with peeling paint again later. Make sure the wall is clean and dry before you start.
This is one thing you should definitely not be frugal about. Use the highest quality exterior home paint you can afford, because inexpensive paint is very likely to crack and peel again, forcing you to start all over and costing you more money in the long run.