There are many government programs available to help with the cost of drilling a well. Grant programs from the United States Department of Agriculture Rural Development Fund help lenders provide loans for well drilling that never exceed 1 percent interest and have a maximum term of 20 years.
Costs for drilling a well depend on several factors, including how deep the well must be drilled, location and the type of well pump. Getting multiple quotes from well drilling companies can help ensure that you get the best value for your money. Purchasing a high-quality well pump helps to reduce long-term costs, but if saving money initially is necessary, then a less expensive pump can be used. In some areas you may be allowed to self contract some of the well work yourself, such as running water lines to the home. Some people save money by installing used well pumps, which become available when owners decide to upgrade to a larger pump. Before installing a well, homeowners must check with their specific city or county to determine if private wells are allowed. Over the long-term, the costs associated with installing a private well can be offset by reductions in monthly water bill costs.