I would go with off-white making not so contrast beams.

I like this. So repainting basically correct? Or do you recommend vinyl of this color?

Is there anything I can incorporate to make it look more modern like this photo? I like the uses of the wood (I wonder if it’s actually wood or wood look vinyl that these homes use?)
And the stone, color etc ..

The shape of the house is not anything like your inspiration picture. Your house will never look like that. It is a beautiful home, just the way it is right now, please do not try to make it something it isnt, because, it will never look right.

I think still possible to make it nicer.

First your home does not look like a barn, it looks like a repo of something Scandinavian. If you throw enough money at it there are plenty of contractors/architects that will give it a go. As stated your inspiration pic is far from what you have...will you change the roof line' just remove the trim??? Lots of ways to go. Frankly I do not see the appeal of your goal...no charm, too sterile. Be sure you LOVE what you are getting not just chasing the 'latest'.

It looks like a 70s Tudor revival. It's trying to look like a building from the middle ages so modern isn't really in its bones.

You can paint the half timbering the same color as the surrounding stucco to minimize the tudorishness, like suggested above. It won't be modern of course, but it really is pretty nice looking.

If you can get into the old-style Tudor revivals (the best were from the early 20th century) and tart it up that direction, you'll have better luck.

Can the decorative pieces be removed? If not, painting the entire upper wall a darker color would help.

I agree with GIgi. Remove those pieces. Smooth the surface and paint. The brick is fine.

Most expensive would be to use siding.

I’m pretty sure those brown wood pieces are on the surface and can be removed. You may opt to keep some of the more substantial vertical pieces such as the ones in the corners and maybe the horizontal band that intersects the window all the way on the right of the house. Once the diagonal pieces and the skinny/skimpy pieces are removed, that horizontal band may look quite modern. Have somebody remove the skimpy pieces and eye it up before making a decision on the more substantial pieces. Also, for the window trim, the bottom part of the vertical trim that extends beyond the bottom of the horizontal window sill trim can be removed (by trimming with a multitool or similar) without removing the remaining trim from the house. This trim can then be painted a color to compliment the rest of the wall. Lose the brown/beige color palette. It’s very 1970’s and it’s dating the house.

If the top half of the house is stucco, then you should definitely just paint it instead of covering it with vinyl. Your inspo pic looks like a high end house, and generally speaking, high end houses will use real wood or other expensive materials and not vinyl, which is one of the least expensive materials you could choose. Why cover expensive stucco with inexpensive vinyl? Especially when stucco has get potential to look very modern?

I agree with another poster concerning your inspo photo. I think your house has the potential to look much better than that house with a little facelift.

The upper section is meant to look like a Tudor half-timbered house, which was built by cutting a log in half, constructing the house so that wood shows, and adding stucco in between. I live in a Tudor style and my neighborhood has lots of them. People try to de-Tudor them by painting them in modern colors (e.g. grays) but it just look like somebody hates their Tudor house. They sure don't look modern because of the roof shape and the general architectural style.

If you haven't bought this house yet, keep shopping if a modern exterior is important to you.