EIFS (Exterior Insulation and Finish Systems) is a kind of synthetic stucco that has proved to be problematic, especially in localities where the climate is moist. Wood panels covered by this type of synthetic stucco have been shown to easily be damaged from rot due to moisture. However, there are other kinds of synthetic stucco that are relatively more durable, and has other advantages of real stucco. What’s important is consulting with your contractor before using synthetic stucco, as with any other construction material.
Of course, the obvious advantage of synthetic stucco is its affordability. Therefore, as long as your area has ideal conditions (i.e., not too rainy and humid, cool and dry), there is nothing wrong with settling for synthetic stucco that virtually looks the same as genuine stucco.