In drought-stricken regions of the U.S., there is growing panic over the lack of water to meet residential, farm and business needs. The thirst for more water is leading to some interesting dilemmas. Here's what you need to know if you plan to order a new well any time soon:

There's a long waiting list to have wells drilled in some spots.

In California, farmers and homeowners are waiting months and sometimes years for the well drillers to arrive. Some drilling firms have two-year waiting lists, and they're working around the clock. One solution has been the arrival of out-of-town drillers, who often promise faster results but charge higher prices since they must pay higher costs for the room and board of their crews.

If your local drilling firms are all booked up, and you are considering hiring an out-of-town company, be diligent in learning all you can about their business. Make sure they are properly licensed and insured and that they follow your state and municipal rules and guidelines. Find out about other local jobs they've completed and talk to those well owners to determine whether or not the work was satisfactory.

Since these firms often show up, do their work and then leave for other locales, it may be difficult to resolve problems if they occur after the out-of-towners have gone on their merry way. Have an agreement in writing that covers how any future issues will be handled with your well or pump.

New wells are often drilled deeper and will cost more.

With many wells failing, new water sources must be found deep underground. Some farm wells are being dug as deep as 800 ft. to 1200 ft. before water is sourced. More expensive, heavy-duty submersible pumps are used in many of these wells in order to bring water efficiently to the surface.

There is usually a preliminary charge for the crew to set up before they even start drilling, and then they charge anywhere from $60 to $150 per drilled foot for a residential application. With a well that's 500 ft. deep, that's $30,000 if you're charged the lower figure, and that price doesn't include setting up the pumps. If you're in an area where wells are going dry, expect a new, deeper well to be a significant investment.

If you're planning to have a well drilled, talk to your pump supply professionals about the best type of pump for your location. You need to know which filters work best with your particular soil, and which will function properly at the depth your drillers believe they must reach to provide your water. A submersible pump will give you years of service in an extremely deep well pump, but only if you choose the right model with the correct filtration system.