What You Need to Know About Water When Buying
Forget diamonds! Water has become the most-coveted resource in California and especially San Benito County for home- and land-owners. This is a sticky time to be buying land and/or a home that is not on municipal water. Making sure a property has well-documented water rights is no easy feat – and one that can zap your property value if you are caught unawares.
If you are buying a home that either includes a well or does not have access to municipal water, it is important that you do some digging to establish that you have the appropriate allotments to do what you intend with the property. For example, just because a well can be used for water in a house, that does not mean it can automatically also be used to water a newly-installed orchard or to water livestock. There may be a limit on number of gallons or purpose. Having a thorough understanding of what is currently allowed, what may be changing in the immediate future or when there is a severe drought, and what future municipal development plans are underway are important to understanding the true value of a property.
If you are selling a home with a well, working with a local real estate professional who understands the value of established water rights can be a huge benefit.
Water is one thing in our county that you don’t want to leave to chance by working with an agent who doesn’t understand the ins and outs. It is a critical issue and one that needs expert knowledge when buying.