With the unpredictability of the real estate market over the last decade, few things have a real and calculable effect on your home’s value like waterproofing the basement. According to the New York Times water penetration, even a small amount will negatively affect the value of a home. But there’s good news. Signs of water in the basement may decrease the value of a house, but having your basement waterproofed will increase the value of your home.
Many potential home buyers are looking for a home that requires no repairs. They’re going to hire an inspector and a wet basement is going to raise a huge red flag. The buyer is looking not just for a dry basement, but for the peace of mind that there is no existing foundation damage. What’s better than a dry basement? A waterproofed basement gives the buyer peace of mind that they won’t have to worry about the risk of future foundation damage.
Peace of mind is great, but how does it correspond to the actual value of your home. Real Estate Communities estimates a 10% to 30% increase in the resell value of your home. Even if you don’t plan to sell your home in the near future, you’ll be living with a dry basement until you do sell your home giving you all the more usable, livable space. It’s better to seal the basement before trying to sell than rushing to find a quality basement water proofer that can get the work done before a close date.
It’s more affordable than most people think. Waterproofing will pay for itself several times over if you are selling, and will pay for itself in usable space and heating bills even if you’re not in the market to sell. A buyer looking at two comparable homes will choose one that has been waterproofed over a wet basement every time. If you sell a home without a waterproofed basement, you’re leaving money on the table. A dry basement really does affect the price of your home.
