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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.

The best vinyl fence style for your yard depends on your needs, form and function-wise. For example, a classic vinyl picket fence in your front yard helps contain kids and canines while offering views of your neighborhood. But a more expensive privacy fence creates a secluded backyard oasis for family gatherings. Opt for a ranch-like post and rail vinyl fence if you want to carry on your rustic farmhouse vibes.

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.

Of all the fencing options, the cheapest type is a repurposed pallet fence because it’s made of used materials that are easy to find for free. But if you’re not interested in the DIY game, customize a covered chain link fence or a plain wood fence to provide the best privacy possible.