Websites such as ThisOldHouse.com provide tips for choosing the best paint when remodeling stucco, as well as tips about other elements of stucco repair. The final coat of paint over stucco should be a heavy-bodied acrylic elastomer.
Add two coats of stucco before the final layer of paint when making a repair or remodel to an existing installation. On top of a repair patch, trowel on a coat of stucco 3/8 inch thick, beginning at the bottom and working your way toward the top. Packing the edges of the area down with a brick trowel ensures a smoother finish. Wait for the wet glow to disappear before smoothing the patch with a trowel so that the finish rests just under the level of the stucco already there. Before leaving the stucco to dry, it is important to cover the area with a plastic sheet.
Before beginning the repair of a crack in existing stucco, it is necessary to cover the area you want to patch with polyvinyl acetate, a bonding agent meant for masonry. Roll bitumen-coated fiberglass over the patch with a paint roller. Only once the polyvinyl acetate and fiberglass are in place should you apply paint made for stucco repairs.