Don, could you give us an idea of land prices in that general area of New Mexico? And, is 300' usual for a well around there?
Kathleen
Land prices cover quite a range in these mountains. Partly it depends on how many and how close you want your neighbors to be> Makes sense. There are a few subdivided mtn areas where you can buy land with electric already to the property line, as well as telephone. And in some cases a community water system in place. One such 1.25 acre lot was $58K when we were looking. Another 2.5+ acre lot was about $70K and had septic in place also. A third lot, .6 acre was $45K last summer, down to $38K now, also with septic in place. But these are little communities, and not what we were looking for.
We also found a 1 acre lot for $12K in a small subdivision. There wasn't so much as one square foot that was level. It was a terrible piece of land. I wouldn't buy it for $120 let alone $12K; well maybe then I would, I'm sure I could turn it ove fast and double my money
And then there's a parcel I'd love to have; 28 acres not too far from where we are for $450K. Have to buy it all, that's the rub. It is sundividable tho, maybe keep 10 - 12 acres and sell the rest in 3 - 4 acre size lots.... Hmmmm. It's nice land too, some meadow area, lots of trees too. :-/
We paid $19K an acre for land that has some good more or less flat areas and some slopes. We have an acre and a half and have decided to exercise our option to buy the 4.5 acres remaining. Nearly no neighbors, no one closer than a third of a mile... well the possibility exists for someone about 600 feet away. Not bad. The downside is we're about $55K away from the power grid. But we're going solar.
Within a 6 to 7 mile radius I know of one well at something like 160 - 240 ft, forget exactly... maybe 240 deep and pump at 160? Another place they went down to 585 feet. The deeper well is at a location about 1200 feet higher. Closer to me is a 300 foot well, at about my elevation.
Hope that helps.
