What to Know: Buying or Selling a Home With a Wet Basement

selling home with basement water, buying home with basement waterWet basements are a troublesome issue for any homeowner. Basement flooding and puddles in the basement can cause water damage and can ruin furniture, drywall, and any personal possessions that you might be storing in your basement. Even small amounts of moisture in your basement can cause mold and mildew to grow and can cause other problems in your basement. A damp basement might lead to wood rot and metal rust that can compromise the structural integrity of your home.

Buying a Home With Basement Water Issues

When searching for a home to buy, the last thing that you want to see is a wet basement. Wet basements are a pain to deal with and might even be signs of a foundation problem. However, water in the basement of the home that you are considering purchasing might be a plus. Why? Because wet basements give you a chance to negotiate a lower price. The seller knows that homes with wet basements are harder to sell because they are less attractive to potential buyers. If they have already been having a hard time selling the house, they will likely be open to selling it for less. Homes with wet basements often see a 10-25% decrease in value while on the market. That can be a great advantage for the home buyer.

Why should you consider buying the bargain home with the wet basement? A lot of homes in the current market, up to 40%, have some sort of serious issue. In other words, yobuying a home with a wet basementu are probably not going to find a perfect home. Common problems in homes include:

  • Foundation cracks or movement
  • Asbestos in walls or floors
  • Defective roofing that leaks
  • Lead paint on walls
  • Wet basement or basement leaks

Out of these issues, the wet basement is the easiest to fix. It only takes a day or two for a professional waterproofing crew like the ones at Reliable Waterproofing &Masonry to install a sump pump and interior drainage system. Our team also offers exterior waterproofing for added protection against basement water leakage. Proper waterproofing, a small expense compared to the benefit, can even increase the value of your new home by 400% or more.

The best way to approach buying a home with a wet basement is to make it clear that you are willing to buy the home, but that you want to do so at a lower price due to the basement water issues. Once you have purchased the home, invest in waterproofing with a professional, trustworthy waterproofing company to avoid any damage to your property and keep water problems from reoccurring.

Selling a Home That Has a Wet Basement

selling a home with a wet basementIf you are the one selling the home with the basement water issue, the best course of action is to get the problem fixed as soon as possible. Proper waterproofing will raise the value of your home immensely and will make it even more appealing to potential buyers. This might involve putting in an exterior waterproofing system to prevent water from seeping through the foundation or forming puddles in the yard around your home. It might involve putting in an interior drainage system that collects basement water and expels it using a sump pump system. Whichever waterproofing option that you choose, Reliable Waterproofing & Masonry can help.

With proper waterproofing, you might even be able to reconsider selling your home. If your goal in selling your home is to get more usable living space, waterproofing and finishing your basement might be a more appealing option. This option can provide you with the added space you need while saving you the time, money, and stress of moving to a new home. In addition to giving you valuable extra living space, finished basements raise the value of your home, making it easier to sell if that is the route you choose. Finishing your basement is also a less expensive alternative to adding on.

Tips on Waterproofing and Finishing Wet Basements

However, when finishing your basement it is important to start out right. First, you want to make sure that the basement is properly waterproofed. If water seeps into your finished basement, it will likely ruin all of the hard work that you have done. Basement water can wreck insulation, drywall, carpeting, and more in finished basements. Exterior waterproofing prevents water from entering the basement, but interior waterproofing is a less expensive option that also keeps water from collecting in your basement. To provide even further protection from basement water issues, invest in a high-quality dehumidifier for your basement, which will reduce the chances of mold growth or wood rot in your basement. You might also consider having a vapor barrier installed if you have a crawlspace, as this will keep moisture vapor out of your home.

Whether you are buying or selling a home with basement water issues, you will need professional basement waterproofing at some point. When you get to that point, do not hesitate to call Reliable Waterproofing & Masonry for professional exterior and interior waterproofing.