I've lived in my present house for 1 year and am new to well pumps. The house is 40 years old and has the well pump and tank in the basement. The tank is galvanized and looks pretty new. It measures 4 feet tall by about 16" diameter. No capacity is listed, although it does state "75 psi max working pressure".

The problem is the pump itself looks old and very rusted and is beginning to drip constantly from various places. I'd like to replace it myself.

There are two (why two?) heavy rubber hoses entering the basement wall from the well that attach to the pump (with basic hose clamps) which sits on a mount that is strapped to the top of the tank. The pump side of the unit says "Rapidayton" and the i.d. plate on the motor says "Century" and is 1/3 hp. Then there is a "Pumptrol" controller. The setup looks like its as old as the house. Ideally I'd like to have a submerged pump in the well (quieter) but for financial reasons would just like to replace the pump and utilize the existing tank since it's new (unless there is a compelling reason to switch).

What type of pump should I get and would more horsepower be necessarily better? Sorry to be so basic in my description. Thanks for any advice!