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How long a fence lasts, including a split rail fence, will depend on the material from which it’s made. The average lifespan of a wood fence is about 15 to 20 years. However, split rail fences made out of premium materials, like composite, vinyl, steel, or aluminum, can last for 25 to 30 years or more, especially if you take good care of the material and carry out necessary maintenance.

A wrought iron fence costs about $3,150 on average. The price can range from as low as $470 to as high as $10,310 or more. The cost to install a wrought iron fence can vary dramatically depending on the size (in terms of height and linear feet), design complexity, shape, and add-ons such as gates and decorative flourishes. Consult a wrought iron fence professional with the measurements and specifications of your project to determine an accurate estimate.

Hedges are a better financial investment for a home than fences in several ways. First, hedges are less expensive to install than fences. Fence installation costs $1,775 to $4,600, depending on the type and size. You can also choose to plant smaller and less expensive hedges, knowing that it will take longer for them to mature. Next, mature hedges add resale value to the home, meaning the cost savings get even better when it's time to sell.

All fences offer some degree of privacy, but standard perimeter fences may not be designed with that in mind. Dedicated privacy fences, however, tend to enclose smaller areas and feature more high-end materials that truly emphasize seclusion and comfort. Additionally, privacy fences typically offer fewer gaps to peek in through than standard fences, though you can likely adjust that to suit your preferences.