just bought a 5 acre view lot that I am seeking to develop (for personal use) and need to establish a water source. Previous owner of the lot had a failed well attempt, and I got a great deal because of that. The neighbor is willing to discuss a shared well arrangement (they have an operating well). I am trying to figure out how much to offer as a typical range for sharing the well and entering a shared maintenance agreement on the well. Other option is to make another well drilling attempt and the county has also adopted Rain Water Harvesting into their code as a third option. The easiest solution is a shared well (well needs to put out 800 gallons/day per county to share). Paid $50K, value with a water source, is as high as $700K (might just sell it if I get water because of that).
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