If you are tackling this job, the panels are the way to go. Panels come in both 6 and 8 foot high and also in gothic and dogeared tops. There are about three species of wood they sell, alot of knots, fewer knots, and less knots and then PT wood also. The Pt wood fence is actually only about 1/2 inch thick, I like the idea, but feel that this is too thin.
When hanging panels, its pretty crucial to make sure that each post is 8 foot on center and that you drill your hole straight and stay on center. They give you some lee way on the spacing, but its important to do this phase right.
You can go either wood posts using 4 by 4 PT wood posts with about two feet in the ground and then 6 foot above ground which means buying a 8 foot post.
Then you have the metal posts which more and more people are choosing because the majority feel that they will not bow out. They still do.
Wood posts will cost about $6 per post. a metal post will run about $18 for the post, and $2 per fasteners and you will need three per post. Then you have about one bag #40 pound per hole.
This will be about a two day job. Make sure you call your local dig test crew before punching holes to make sure that no utility cable is buried where the post is going.
You also have a choice if your grade changes to have smooth even tops regardless of the grade or to sit the panel close to the grade and follow it. This closes the gap with the ground and the bottom of the fence but has un even tops.
Most customers want smooth even tops and fill in with landscape timbers where the grade changes.
You can also mount a 2 x 6 PT board all the way around the permemter of the lawn and fasten to the posts and sit the panels on the board and this will extend the fence and keep lawnmower and weedeaters from eating up the bottoms.