Latex has a long lasting finish with the best gloss retention. Latex paints clean up easily with soap and water.
Oil Based Paints
Oil based paints are developed with synthetic resins which perform better then paints based on natural oils. Oil based paints can cause a heavy odour when used indoors, and the drying time of oil based paints can take up to 24 hours.
Interior Paints
Emulsion paint is generally used for interior decorating. This form of paint can give you a matt or silk effect, emulsion Paints are water based making them easier to apply on walls and ceilings. A emulsion painted wall can be cleaned without any damage being caused to the paint.
Exterior Paints
The important factor to remember, is that the same paint applies better on itself, for example if the previous paint is latex, a latex paint would apply better. Latex exterior paints and some of the alkyd paints are considered the most effective. The advantage of a latex paint is that it dries exceptionally fast and applies very easily. The advantage of a alkyd paint is that it is very self cleaning.
Choosing the Sheen of the Paint
Gloss is the Shiniest, will reflect more light and is highly washable. Semi-Gloss is Less reflective then gloss and more subdued. Easy to clean. Eggshell or Satin paint is duller then semi-gloss. Silk emulsion will give you a shine to your walls and ceilings where matt emulsion will give you a flat looking finish. A flat finish: Does not reflect any light and will soak in any natural light rather than bouncing the light around the room.