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The longevity of paint on wood depends on factors like the quality of the paint, surface preparation, exposure to elements, and maintenance. Exterior paint on wood surfaces can last 5 to 15 years or more with proper care and maintenance. Interior paint tends to have a longer life span, often 10 years or more. Regular cleaning, touch-ups, and addressing any issues like peeling or cracking can extend the life of the paint. 

Staining or sealing a cedar deck or fence is highly recommended to extend its lifespan and protect it from the elements. While cedar is naturally resistant to mold and mildew, it is not impervious to damage from moisture, sun exposure, splintering, fading, and rot over time. Applying a protective finish creates a shield that preserves the wood's strength and appearance, potentially extending its life by five to 10 years.

When choosing a finish, it's helpful to understand the difference between a sealer and a stain. A sealer sits on top of the wood, whereas a combination stain and sealer soaks into the top layer. Because it penetrates the wood, a stain generally offers better protection against UV damage and rot and lasts significantly longer. For the best results that also preserve the wood's natural color, consider using a near-translucent stain.

To maintain protection, plan on reapplying the stain or sealer every two to three years, either as a DIY project or by hiring a professional.

Your tool of choice ultimately comes down to personal preference. Many DIYers prefer applying stain with a lint-free rag, but others stick with a paint brush or a roller. Wipe the stain and work it into the wood, working with and against the grain. If you’re applying multiple coats, allow the stain to dry for around four hours between coats.

Wood stain is typically dry to the touch within 6 to 12 hours, but it is not fully cured at this point. You should wait at least 24 hours before applying a second coat or a protective finish. For surfaces like decks, avoid walking on them for at least 24 to 48 hours, and wait even longer before placing furniture. The full curing process can take from 24 hours to one week, depending on the type of stain. Factors like high humidity and cold temperatures can extend drying and curing times, so it's wise to allow for extra time in these conditions.