I know this is a frequently considered option and I just came across pictures of our fireplace up north which I painted summer of 2016 just before we had hardwood floors installed. I am very happy with the result.

its hard to see the detail in the photo, but the bottom part on each side are 2 left over sheets of white faux cedar shake shingles, giving it a little more texture and changing things up a bit. We had just 2 pieces left over so it worked here perfectly to be able to use them up in a creative way.

I see a drastic improvement here! Glad to see your project turned out so well. Nicely done!

Be sure to sample colors on all four sides of the house before committing to the color. The color will look different on the different sides. Have the painters put up big swatches and pay attention to how it looks with your roof color. Daylight tends to wash out colors so you may want to choose something that looks too dark on a chip. Ask the painting contractor which brand they like to use and choose a color only from that brand. Color matching between brands is approximate, not 100%.