Those planning to paint the exterior of their home probably spend a lot of time worrying about what is the best type of exterior paint for their home. First, it is important to understand that there are two types of exterior paint to consider. The two types of exterior paint are Solvent Based and Water Based. Solvent-based paint is oil-based paint. It dries very slowly and can be cleaned up with turpentine. Water based or latex paint dries very fast and clean up is quick with soap and water. It is clear that each exterior paint has their advantages and disadvantages. Consult a paint specialist at a local paint store for more information.