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Installing a picket fence includes measuring and marking the area where you plan to build the fence, laying out all of the materials, digging post holes, setting the posts using concrete, measuring the rails, attaching the rails, attaching the pickets, and then painting or staining the fence if you chose a wooden fence material. 

The average lifespan of a wood fence is 15 to 20 years, but some can last for 40 years or more depending on several factors. The type of wood is crucial; for example, untreated pine may only last 5 to 10 years, while pressure-treated pine can last up to 20 years, and cedar's natural resistance can extend its life to 40 years. Other factors include local weather conditions, with wet and windy climates causing faster deterioration, and the quality of maintenance. Higher-end wood, metal posts, and privacy fence styles also tend to last longer.

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.

It’s usually cheaper to buy pre-made fence panels than to build your own. This surprises many people since DIY tasks so often save money. However, large stores don’t have to pay the same amount per board of wood that homeowners do, allowing them to sell pre-made panels at a more cost-effective rate. Pre-made panels also save a great deal of time, energy, and guesswork. The drawback is that they are harder to customize to the shape and slope of your yard.