What would you do with this outdoor 40 year old homasote?

Kari
by Kari

It is 40 years old and on the garage. Has taken on some water. Not sure if we should replace it....shiplap siding was suggested. Also thought about covering it with tin. The facia boards are already cut for the top. I don't think it needs anything fancy because it is just a garage but my fiance' disagrees. I would just paint it and call it good. Please help!!!!

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