Ground conditions and the depth that one needs to drill will determine the time taken to drill a borehole. Ground conditions vary considerably between areas and this will also determine the method of drilling, percussion (using air) or mud pits (using water).
Anywhere within your property boundary lines and subject to accessibility of the drilling rig.
Very similar to that of a pool pump, depending on the size of the pump. The deeper the hole the bigger the pump.
The quality of the water is determined by the area and one needs to test the water by a laboratory before attempting to drink the water. It is always advisable to treat the water with a filtration system before using it in your home.
A cylindrical pump is lowered into the borehole and the water is pumped from the bottom of the borehole to the surface.
A borehole can last forever, as long as the water continues to flow into the borehole. A well-constructed borehole with PVC lined pipes is always good practice to get maximum life from the borehole.
Absolutely, one just needs to do some tests to determine whether the hole is still clean and whether the hole is still delivering water. Sometimes it might have collapsed and then a small rig can be placed over the hole to drill it open or just blown it clean using a compressor.
A site inspection will determine accessibility of the drilling rig and water divining will determine whether there is a source of water.