An overhead view is somewhat helpful, but a picture of the actual back yard would be even more helpful. I'm not sure what I'm looking at, but it looks like the house takes up most of the lot. "Updating" is a vague, loaded term. What types of activities do you want to be able to accommodate? What climate are you in? Do you like to spend a lot of time outdoors when weather permits? Almost every home anyone buys needs help with landscaping which tends to either be too minimal or overgrown. You could spend anywhere from $10 - 50K on a back yard, and I'm sure some people have spent much more than that. How much are you going to have after the home purchase? How much will you need to spend inside to get it the way you want it?

We live in North Carolina and spend quite a bit of time outside relaxing. We are almost retired. We will have money left after the purchase up to about $50k. Don't really want to spend that much. Just want some privacy and maybe an outdoor fireplace

That's 2 story for almost retired? Is there an elevator? :)

Primary bedroom on the first floor. Everyone upstairs is on their own🤣

Frankly, given the trees, it looks like there's privacy. It's make any suggestions with that aerial view. Start with what you're looking for: a patio? With room for a pair of chairs or lounge chairs plus a table for 6 and pizza oven? Where's the lot line? Is there a slope?