Advice on render vs repointing side walls of a Victorian terrace

Hi All,

I've got a typical freestanding 2-up, 2-down Victorian Terrace in Sydney.

I definitely will get the balcony restored and re-rendering on the front.

For the side walls, where the mortar is getting a bit old, would it be better to get these re-rendered as well or just re-pointed?

What is the trade-off in terms of cost vs. payback?  (Side walls are 8m deep x 5m high).

I notice that similar houses in the street don't have rendering on the side walls.  Is there a reason for this?

Any advice gratefully received.

James.