Unless you're getting the home at a rock bottom price, stay away. I think it also depends how long you plan on living in the home. If you're thinking 5 years or longer it could serve as a good investment down the road, despite the water issue.

Daniel Reynolds, Realtor®
Broker Executives, Inc

http://evmls.com
480-297-2008
daniel@brokerexecutives.com
Broker Executives, Inc

Dear Cathy:
Stay away from the "hauled water" if you can. The well water is the way to go.

By the way Rio Verde area is a real gem. Great views and an Arizona rural feel yet close enough to Scottsdale and Fountain Hills for some civilization.

If I can help you in any way, just ask :)

Jeff Masich, Realtor®
Arizona Homes and Land

http://ArizonaHomesLand.com
480-556-0940
jmasich@usa.com
HomeSmart Real Estate

Thanks for all the replies, very helpful.

The market dictates the affect on market value. There are many other factors involved in determining how much the affect is - in terms of $.

Generally Speaking -- -- A residential property with an "on site" water source (public or private) will command a higher value (or price) than a residential property without. As stated before - the market dictates how much ($)...

Many wells in the Rio Verde market area are shared wells. The reason being, the amount of available ground water is less in some areas than others, so the number of permitted wells in an area is limited. The number of residential properties sharing a specific well can and does vary. If a buyer is using FHA for financing purposes - the maximum approved number of properties sharing a well is 4.

Cathy,

The difference of buying a home with a good well and one with hauled water is huge! Hauled water is not desirable, and it going to back people off from purchasing your property in the future. That said, there are a lot of bad wells in Rio Verde so if you end up buying one with a well, make sure it is a good one. A well can run from 20k to 50k in Rio Verde depending on where your property is located, and in some areas out there there is no water at all. I would dare to say that the differnce in terms of value can be up to 100k on a property, it is not just the cost of drilling a well (if even possible), but the risk of not finding any water at all.

That said, quite a few people in Rio Verde haul water and is ok with it, but the majority of buyers are not ok with it.

Hi Cathy,

I live in Rio Verde foothills and have owned 2 homes one with a well and one with a water district/well in Granite Mountain Ranch which is where I live now.

On average, the differential of cost for a home with or without a well can range 20-30 thousand dollars roughly and perhaps more.

If you have horses or livestock and intend to have a pool and landscaping be prepared for a lot of water usage from irrigation, pool water evaporation and horses if more than one consuming a lot of water here in the desert.

Costs monthly with a family can run as high as 3-400 per month depending on how large the home and how many are in the family.

Hope this helps you...

Sincerely,

Stew Keene - Home Smart Realty
Member Master of Real Estate Society
Scottsdlale and North Phoenix area Specialists.
(480) 220 -7491