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The number of blades for your fan poses both advantages and disadvantages. Typically, the more blades on a fan, the better the air distribution and cooling effect, but this also means that your fan will have more wear on its motor. For small rooms, three-blade fans should work fine. For larger areas like living rooms, four or five-blade fans might be the better option. 

In short, no. You can use the square footage range chart in this article to determine the right size ceiling fan for both indoor and outdoor spaces. However, weather elements can damage types of ceiling fans that aren't designed for outdoor use, so your ceiling fan should be weather-resistant if you plan to install it outside.

Fan power is measured by CFM, or cubic feet per minute. For every 1,000 feet of square footage in your attic, you need a minimum of 700 CFM. Steeper roofs may need larger fans or about 840 CFM.  You can figure the size of attic fan you need by multiplying the square footage of your attic floor by 0.7. (multiply by 1.2 for a steep roof and 1.15 for a dark roof). That number is the CFM required for your fan to run efficiently.

If the fan doesn’t have a switch, connect the white wire from the ceiling to the white wire from the fan; connect the green wire to the ground wire; connect both black wires; and connect both blue wires. If yours has a switch, the white and green wires are connected the same way. However, connect the ceiling’s red wire to the light’s black wire and the ceiling’s black wire to the fan’s black wire.