The reasons for privacy fences are many. If you get along with neighbors, these actually allow you to remain friends. They do help eliminate many small problems that can grow into larger ones. If is best to talk with your neighbor about putting up privacy fencing before you do it, and even ask them if what you are thinking of choosing is pleasing to them. They, after all, are going to have to look at it just as much as you are. They may even love that they will have some sort of privacy on their own side of that fence as well.
Privacy fencing can and should be rather tall, and not made from chain link. Privacy should be just what it sounds like.