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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.

Fences made out of redwood, cedar, or pressure-treated pine are the most durable. These materials can last anywhere between 15 to 40 years so long as they are properly maintained. Make sure to clean your fence regularly and pressure wash once a year. After pressure washing, apply a sealant and/or fresh paint to keep it looking fresh.

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. 

There are many pros and cons to vinyl and composite fencing. Both fencing types offer longer lifespans than wood fencing, with some notable advantages. Whether one is better for you will depend on a few factors. Composite is better if you prefer recycled materials, while vinyl is extremely easy to clean. 

Also, consider the disadvantages: vinyl can be more expensive, while composite fencing fades during the first six months.