Painting stucco the right way requires using the correct type of paint product. Most stucco homes now days are completed in the "smooth" or "imperfect smooth" stucco finish. I recommend that the stucco then be "painted" rather than mixing in a "color" to the stucco before applying the last coat of stucco (better know as the color-coat).
Painting the stucco finish will give you the chance to touch up the stucco paint in the future or if you ever have to patch the stucco, it will be easier to paint the stucco patch rather than matching the color of the color-coat for a perfect color match to the stucco.
Knowing what "type"of paint to use for painting the stucco is the hard part. After the new stucco finish cures on the exterior walls, you will notice seeing lots of tiny hairline cracks. These cracks will show if you use the wrong paint when painting the stucco.
The best product to use when painting your stucco is a paint product called "elastomeric" paint. This paint looks like a wallpaper paste as it is very thick & dries "rubbery". This type of paint "stretches" with your walls so it will cover the initial hairline cracks & when your walls shift & move ever so slightly in the future (yes this happens), additional hairline cracks will form in your stucco. These cracks will be visible to the eye if you use the wrong paint product.
Painting the stucco with elastomeric paint will prevent any newly formed hairline cracks from showing as the elastomeric paint will stretch & "bridge over" these cracks. It's really a cool product. There are other brands of an elastomeric type paint available so check with your local paint store for what they carry,etc..
Elastomeric paint is not the cheapest type of paint to use when painting your stucco walls but it is the best type of paint hands down. Consider it an investment as this paint will last twice as long as conventional paint (or more) thus your realized savings.
You can also purchase a stretchable type of exterior caulking for all areas around trim edges,etc. which is highly recommended. Make sure you use the proper caulking so carefully read the labels before purchasing your caulking product.
Think twice before painting your stucco. Asking questions, getting answers, & making decisions on what paint to use for your stucco project are the most important steps of the process. Elastomeric paint should definitely be part of your game plan.
Click here to get some "FREE" video painting tips for your next painting project