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Corrugated metal is a strong, long-lasting material. A corrugated metal fence will typically last several decades, and the metal panels themselves may last for 40 to 60 years. The main thing you should be concerned about is the fence posts. Wood fence posts will last about five years if you purchase them untreated or about 15 years if you treat them after installation. Keep an eye on your posts and look out for insect damage and rot.

A stockade fence is a common type of privacy fence. These fences consist primarily of side-by-side boards without any gaps, thus eliminating the possibility of anyone peeking into your property. Stockade-style fences also typically included pointed pickets on top for even more security. Other than these traits, stockade fences come in a wide variety of styles. 

The cheapest farm fences are typically wire fences, which cost less to install than traditional lumber fences. Barbed wire is one of the most inexpensive options due to its simple materials, making it a good choice for low budgets. It is suitable for confining docile animals in large spaces, as it provides a visual barrier and a mild deterrent. Other options like hog wire and woven wire fences are also cost-effective because they require less lumber than a full wooden fence. These types of wire fences are strong, long-lasting, and relatively easy to repair, though they are often considered less aesthetically pleasing than wood.

When deciding to replace or repair your existing fence, consider the 20% rule that fence builders reference. This rule states that if more than 20% of your fence needs repair, you should skip the repair and replace it. Additionally, if your fence is nearing the end of its life, it's often best to replace it.

Repairing the fence is a good option when you have minimal damage or damage from a specific event versus wear and tear. Your fence repair professional can assess the damage and compare the repair price with the cost of a new fence.