It’s important to use a high quality primer before painting as it will allow the latex paint to grip on to the brick.
To apply the primer, use a stiff paint brush to push the paint into the mortar and various cracks in the brick.
You can use any sheen on your brick, and while a glossier finish will make cleaning your brick a little easier, a matte or semi-matte finish will look more natural for brick.
If you want an even cheaper option, you can use pine boards and it would cost around $10; however, maple will give a more high end appearance and just looks nicer overall in my opinion!