If you’re buying a house that is already supplied by a water well, then we’re both happy and sad for you at the same time. We’re happy because you’ll realize greater independence and enjoy cheaper water. We’re sad because we won’t be able to drill a new water well for you for the foreseeable future – although we can repair and service your well if your new home is located in Western Minnesota or Eastern North Dakota.
We’ve already touched on a couple of the financial implications of buying a home with a well. Let’s explore what kind of impact a well will have on your budget in a greater detail!
Well Water is Cheaper Than Municipal Water
It should come as no surprise that water drawn straight out of the ground costs far less than water that has been moved and managed by a local municipality. For reference, Geo-Tech of Minnesota’s hometown of Perham, MN charges homeowners $0.0179 for every cubic foot of water they use. That’s $0.002 per gallon. The average American family uses 300 gallons of water per day, which comes out to $219 worth of Perham’s water annually.
Well water, on the other hand, is free as sunshine.
A Water Well Increases Property Value
You may have been drawn to your new home because the prospect of owning your own water well appealed to you. That is not an uncommon sentiment. There is demand on the market for homes with water wells, which means your home is worth more if it has one. So long as you keep your water well in full working order and uncontaminated, you can expect to sell your home for a higher price relative to a house that is otherwise identical but supplied by city water.
A Water Well Requires Professional Maintenance
The financial implications of owning a water well aren’t solely beneficial. You should have your well inspected annually to ensure that its mechanical and electrical components are functioning correctly. A well inspector will also test your water to make certain it is uncontaminated by coliform and anaerobic bacteria, as well as elevated levels of nitrates. And although a well pump can easily last up to 15 years, you should budget for the replacement it will inevitably require. Likewise, you will have to pay in the event that your well ever becomes infected with bacteria, although professional bleaching is relatively inexpensive.
A Water Well May Require Professional Abandonment
If you purchased a home with a nonfunctioning water well, the financial implications are much simpler. You should pay a one-time fee to have the liability professionally abandoned. A well contractor will seal off your well so as to eliminate a serious risk of death or severe injury (and resultant lawsuits), and also protect the surrounding groundwater from contamination.
Whether your new home includes a water well that you intend to use indefinitely or one that you wish to permanently decommission, you can count on Geo-Tech of Minnesota to take care of everything for you. If you need well maintenance, repair or abandonment in Western Minnesota or Eastern North Dakota, then we welcome you to contact our professional team today!
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