Inflation On New Wells (by NE [PA]) Oct 10, 2024 5:21 PM
Inflation On New Wells (by NE [PA]) Oct 10, 2024 5:22 PM
Inflation On New Wells (by Homer [TX]) Oct 10, 2024 5:42 PM
Inflation On New Wells (by 6x6 [TN]) Oct 10, 2024 6:39 PM
Inflation On New Wells (by NE [PA]) Oct 10, 2024 6:43 PM
Inflation On New Wells (by 6x6 [TN]) Oct 10, 2024 6:47 PM
Inflation On New Wells (by mapleaf18 [NY]) Oct 10, 2024 7:34 PM
Inflation On New Wells (by Richard [MI]) Oct 10, 2024 8:29 PM
Inflation On New Wells (by NE [PA]) Oct 10, 2024 8:40 PM
Inflation On New Wells (by Ken [NY]) Oct 10, 2024 9:16 PM
Inflation On New Wells (by Robert J [CA]) Oct 11, 2024 1:12 AM
Inflation On New Wells (by S i d [MO]) Oct 11, 2024 8:40 AM
Inflation On New Wells (by NE [PA]) Oct 11, 2024 8:52 AM
Inflation On New Wells (by zero [IN]) Oct 11, 2024 9:02 AM
Inflation On New Wells (by Richard [MI]) Oct 11, 2024 10:19 AM
Inflation On New Wells (by Sisco [MO]) Oct 11, 2024 12:18 PM
Inflation On New Wells (by Nicole [PA]) Oct 11, 2024 12:43 PM
Inflation On New Wells (by Ray-N-Pa [PA]) Oct 12, 2024 2:25 PM
Inflation On New Wells (by NE [PA]) Posted on: Oct 10, 2024 5:21 PM Message:
Had a well driller at my house today for a new pump and pressure tank, 380’ deep. 6-8 maybe 10 years ago we would pay about $2,500-$2,800 max for that. Today it’s $6,600. Back then our new drilled wells at flips were about $6,500 to $8,500. That’s everything new. The hole, the pump, pressure tank, excavation, etc.. Today they said their average new drilled well is $16,500. Material costs.
So figure for a new build on an acre or 2 of land you’ll be pushing $100,000 for the land, well and septic before you even dig the foundation. Good luck out there! --174.249.xx.xx |
Inflation On New Wells (by NE [PA]) Posted on: Oct 10, 2024 5:22 PM Message:
And they’re swamped with work. Waiting list for new wells and constantly busy with pump and bladder tank replacement. --174.249.xx.xx |
Inflation On New Wells (by Homer [TX]) Posted on: Oct 10, 2024 5:42 PM Message:
Last year, my neighbor got one drilled to water their grass. Was about 700 feet deep. $75 k. Today, their grass isn’t much greener than mine. Lol --66.169.xxx.xxx |
Inflation On New Wells (by 6x6 [TN]) Posted on: Oct 10, 2024 6:39 PM Message:
But NE, you know that inflation peaked at 9.1% don't you?
What's the problem?
Feeling like there is a hidden tax somewhere? --73.108.xxx.xxx |
Inflation On New Wells (by NE [PA]) Posted on: Oct 10, 2024 6:43 PM Message:
9.1% where? JAC’s hometown maybe. --24.152.xxx.xx |
Inflation On New Wells (by 6x6 [TN]) Posted on: Oct 10, 2024 6:47 PM Message:
Where? In the lies from the government. --73.108.xxx.xxx |
Inflation On New Wells (by mapleaf18 [NY]) Posted on: Oct 10, 2024 7:34 PM Message:
Uh oh. Bad news. Turns out we were in the recession since mid 2021 (due to bad energy, domestic and foreign policies).
AND inflation is still on the rise! I'd say in Jimmy Carter terms, probably around 30%. --64.246.xxx.xx |
Inflation On New Wells (by Richard [MI]) Posted on: Oct 10, 2024 8:29 PM Message:
NE,
Wow. That's some big jumps in price.
Do you find prices for septic tanks, leach fields and repairs to them have also jumped a lot? --97.85.x.xx |
Inflation On New Wells (by NE [PA]) Posted on: Oct 10, 2024 8:40 PM Message:
We do septics on our own under the cover of darkness. Like poo-ninjas. So we save a tremendous amount vs hiring the guy I’m sure the materials are up some. We have done a lot of well pumps and pressure tanks on our own too, but this one wasn’t possible. --24.152.xxx.xx |
Inflation On New Wells (by Ken [NY]) Posted on: Oct 10, 2024 9:16 PM Message:
380 feet down is a long way, when i was in my mid 20s my dad and i pulled one by hand but not nearly that deep.I am not doing that again. --67.205.xxx.xxx |
Inflation On New Wells (by Robert J [CA]) Posted on: Oct 11, 2024 1:12 AM Message:
I went to an construction auction to buy used equipment with a warranty. They had a dozen drill drilling rigs beginning bids from $2,500 to $35,000. So the next time I need a new well drilled, going to buy a use machine an do it myself. --45.63.xx.xxx |
Inflation On New Wells (by S i d [MO]) Posted on: Oct 11, 2024 8:40 AM Message:
Time to open a well drilling business! Or buy an ownership stake in one.
One of the best investing lessons I ever learned was how to hedge. If X gets bad, no worries, because you own Y that benefits. Just so with things like gasoline prices. Price at the pump goes up? No worries, I own Exxon... good quarter for dividends.
If house prices go up, good deal. I can sell. If house prices go down, good deal. I can buy.
My key takeaway from the past 20 years has been we have nothing to fear but inflation. The Govt is not going to slow down their deficit spending. Inflation will continue to rise. So the key is to ride the wave up. Own hard assets and business shares in recession-proof businesses, like well drilling for water. --184.4.xx.xx |
Inflation On New Wells (by NE [PA]) Posted on: Oct 11, 2024 8:52 AM Message:
Yes Sid, especially when I see the numbers these guys charge. Big overhead for the trucks in the beginning, but $6,600 for the day and MAYBE $2,500 in material is not a bad haul. Plus, there’s nothing technical about it once you get past flow rates and what pumps are rated for at different depth. Pipe threads, wire nuts and Teflon tape don’t change much. --174.249.xx.xxx |
Inflation On New Wells (by zero [IN]) Posted on: Oct 11, 2024 9:02 AM Message:
My well guy wrecked his drilling rig. Tire blew while he was highway driving. Totally destroyed.
He got over 400k from insurance and took a loan out for an additional 500k. This was a 2019 vehicle bought this year.
If I think about it I will ask him what his typical wells go for around here. --107.147.xx.xx |
Inflation On New Wells (by Richard [MI]) Posted on: Oct 11, 2024 10:19 AM Message:
We are lucky that around here typical wells are only about 50 feet deep with some to 100 feet, but hey, we've got water all around us. That's one thing I will never have to worry about plus of course the fish. Hard to starve when you've got water and fish. --97.85.x.xx |
Inflation On New Wells (by Sisco [MO]) Posted on: Oct 11, 2024 12:18 PM Message:
All of our well service companies had their own drilling rigs, nowadays, the local well service company subcontracts with a driller from two counties away.
I suspect that the shortage of hard working, smart , mechanically minded,sober employees prompted the shift --149.76.xxx.x |
Inflation On New Wells (by Nicole [PA]) Posted on: Oct 11, 2024 12:43 PM Message:
I had an estimate November, last year. They estimated a 500 feet well (although they didn't think it would need to go that far) and a "larger pump wire" because of the distance to where the house was going to be. $16,925.98 Over $1300 was permitting and water testing costs. --98.237.xxx.xx |
Inflation On New Wells (by Ray-N-Pa [PA]) Posted on: Oct 12, 2024 2:25 PM Message:
For those of you using BRRRR you might want to reconsider a different path. I agree with NE - inflation is a hard bullet to swallow --24.101.xxx.xxx |
Reply:
|
|