Wooden buildings last as long their foundation and roofing last. 

Should the foundation settle from one side, it will create tensions in a structure which eventually end up with cracks/voids in a siding.
Water gets into the construction and the feast for rot bacteria can start. Same is with leaking roofing.

As long your foundation and roofing will hold, your house will be fine. Even in a very damp climate. 

Timber can stand elements for a very long time if it can dry after getting wet. If it stays wet for a long time it will rot.

World's oldest wooden building is a Buddhist temple in southern Japan. It was built in year 607. So it has been standing strong for over 1400 years.


Timberframe homes can last for centuries.

There are lots of historical wooden buildings around the globe in very different climate conditions. If those have last, yours will too.

A good maintenance schedule will ensure the longevity of your home.

Repainting the wooden cladding, inspecting the foundation and roofing should be done in every 5...10 years. 

Also, don't forget about pest control. Rats and mice can damage the building.

For conclusion - wooden buildings may need some more care compared to stone or brick buildings, but keep in mind that those are not maintenance-free either. Most of the stone buildings have roof construction from wood as well.