Will the value of your home increase if you waterproof the basement?
That is a great question. When thinking of home improvement, the basement rarely features in most homeowners’ plans. Home improvement projects that are predominantly cosmetic, such as adding a granite countertop, take precedence over more functional ones like basement waterproofing.
But waterproofing is such an effective way to keep the basement dry and increase the usable space in your home that it can raise the value of your home by 150% of whatever you invest in the project, says Keyrenter Property Management in Richmond. Very few home improvement projects will fetch a return on investment of up to 100%. Basement waterproofing outperforms other more attractive home improvement projects.
What is basement waterproofing, and what causes a wet basement?
Due to its position at the base, water tends to find its way into the basement. That makes basements more prone to wetness than other parts of the building. Several factors can predispose a basement to dampness. Some are condensation, improper slope, cracks in the basement walls, drainage problems, and hydrostatic pressure.
Basement waterproofing involves several techniques for keeping water out of the basement. The three most popular methods for waterproofing a basement are interior waterproofing, exterior waterproofing, and solving drainage issues. Each method works in a slightly different way, but they are all for the purpose of keeping water out of the basement.
How basement waterproofing improves the value of your home
If the basement in your home is leaking, maybe through the cove joints or cracks in the wall, there are several ways that waterproofing the basement will improve your home’s value.
1. Waterproofing the basement makes the home more saleable
The mere mention of existing water problems, especially around the basement or building’s foundation, is enough to discourage buyers. If the buyers are not scared away by the future water issues in the home, they will often make a lowball offer to accommodate the potential cost of the repairs or improvements they have to make.
2. Waterproofing the basement lets you increase your asking price
If you can offer buyers a dry basement as well as a transferable warranty from a reputable basement waterproofing company, the value of your home will significantly improve. Because there is no risk of hidden problems and the assurance that if things go wrong in the future, they don’t have to pay to fix the issues is enough to make buyers pay more for your home.
3. You offer buyers more usable space
A damp basement doesn’t lend itself to a lot of uses. Due to the unhealthy atmosphere, you cannot (or should not) use it as a living space. Typically, the most you can do with a damp basement is deploy it as a laundry room for storage. Waterproofing the basement will let you do more with the space; you can convert it into a guest room and use it as a workshop, gym, or mini-theater. Buyers will be willing to pay you more money if your home includes a dry basement that they can put to good use.
4. Waterproofing the basement secures the foundation
Foundation damage and a wet basement are two intricately connected problems. One problem can lead to the other. Foundation issues are among the most problematic issues to deal with in a building; it is better to avoid them. Even when a homeowner has successfully solved a foundation problem, buyers will continue to ignore the home. That’s because the record of the issue will always show up in the home’s maintenance history. One way to prevent foundation damage is to keep water out of the basement by waterproofing it.
5. Functional improvements are more valuable than aesthetic projects
Expensive kitchen upgrades and stylish bathrooms quickly lose their value when buyers find evidence of water seepage in the basement. No cosmetic improvements you make to your home can compensate for functional problems. Interestingly, even when the water infiltration issue in the house is minor, it will still scare buyers away or hurt the value of your home. That is because no buyer wants to spend the first few weeks after buying a home fixing problems that the previous owner could easily have solved.
6. Reduce the cost of maintaining or remodeling the home
A dry basement will prevent issues that can increase the cost of maintaining your home. When you keep the basement dry, the risk of cracks, holes, and peeling paints reduces. The entire area will have a better appearance, and you do not have to spend a lot of money to fix it up during renovations. Maintenance and renovation costs are two things buyers look at when purchasing a home. You can usually mark up the price of your home if the future owners don’t have to spend a lot of money on maintenance and renovations.
