I've gotten a few bids to paint the exterior of my house. It's a two story with approximately 2500 sq ft of T1-11 siding (just big plywood sheets). I'm changing colors from a light grayish blue to white.

The first bid I got was extremely professional. $3,300 to do moderate prep work, use a mid-quality flat paint, and put on 2 coats. Or $3,800 to bump up to much more prep work, caulking, and the best satin paint.

The second bid I got was from a guy referred to me by my neighbor. $1,100 but he would just power-wash the house and only apply a single coat. He assured me it "is all I need, trust me."

Obviously, I'm a little skeptical of the second bid but it's a little hard to pass up at 1/3 the first company's price.

Any sage advice? How many more years can I get from a quality paint job as opposed to a cheap one?