Years ago I put up a fence with my dad using a post hole digger, no power tools of any kind. It was a small fence but an onerous job.
If I were going to live there, I'd put up a fence on either side with some kind of fancified chain link (epoxied, framed) or other open grid fencing in the back or where the view is. But I like fences. If your son buys it, he can worry about fencing.
I don't think I'd do anything with the house at this point.
When I bought the house we're in now, I liked that it came with a (chain-link) fence (though one side of it was loose enough to act like a trebuchet; since fixed on my dime). I didn't have kids or a dog, but it was nice to have a boundary around the property. I wouldn't have paid extra for a fence, and it would not have been a showstopper for me if it wasn't there. I don't think this is one of those "home improvements" that pays back 100%.
Your son is renting. If he moves out, I don't believe prospective buyers will know enough about the neighbors to decide if a fence is necessary. They can decide for themselves after they move in. They, too, might prefer the wide open look. Or maybe your neighbors will move out.
If your son chooses to stay in the house, he can buy a fence if he still feels one is needed. Or you and DH can be the nice parents and pay for a fence for them. In the meantime, if he wants some privacy, there are all kinds of temporary things he could put up which are much less expensive (and permanent) than a fence.
ETA when I replaced the fence that was bad, I did not have to notify the neighbor (I did because I wanted them to make sure their dogs were OK without that boundary but it was not a legal requirement). And it had to be on the property line, not just where I wanted it.
Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome. - Booker T. Washington
I would remove the dead plants and do nothing else. If your son doesn’t like it, that’s good actually. He can then speed up his decision to move or buy it,
If anything, I might put up a privacy screen (s) in those areas where you want it so not necessarily the whole length. Our neighbor knows that our kitchen window looks into their patio area so they put up a screen of lattice with vines that hides that area - about 9 ft). I would not bother with the expense of a hedge of plants.
I would definitely not pay for a fence. That sounds like a poor use of your money.
I am with Tammy.
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