Gary -
- find out how deep your neighbours wells are, and if at any time of year they go ''dry'' unlikely but possible - no sense paying for extra depth if it is not required.
- new wells may have to ''stand'' for a while to settle, but this depends on method of boring, type of pipes/pump fitted and gravel/soil content around the water table.
- no one can guarantee the suitability of the water without testing, here again get as much details of neighbouring wells as possible, but it appears that the area around here is OK apart from a slightly high PH which is easily managed.