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There are a variety of second-story deck privacy ideas depending on your budget and aesthetic. For starters, you might consider fencing or tall privacy railing that masks a good portion of the open deck. A pergola or an awning can provide additional cover and shade. Outdoor curtains are an easy way to add or remove privacy at your convenience, plus they’re a wallet-friendly way to decorate your deck.

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. 

The lifespan of a picket fence largely depends on its material. Wooden picket fences typically last 10 to 15 years with regular maintenance, while vinyl and composite picket fences can last 20 to 30 years or more due to their resistance to weather, rot, and pests. Metal picket fences often exceed 30 years, especially when properly coated to prevent rust or corrosion.

A wrought iron fence is generally considered a worthwhile investment, provided the cost fits your budget and its characteristics meet your needs. While it is an expensive material, its exceptional durability and longevity mean you can save money over time by not having to replace it.

Key benefits include:

• Durability and Security: Wrought iron is strong and provides excellent security for your home.

• Longevity: With proper maintenance, it can last a lifetime or longer.

• Aesthetics: It offers a classy, timeless, and elegant look that can boost your home's curb appeal and property value, especially when complementing brick or stone architecture.

However, it's important to note that wrought iron fencing does not offer much privacy. If professionally installed and maintained, it is a sound long-term investment.