Recognizing that a wet basement is a major issue to buyers and sellers alike in the housing market, Basement Systems Inc., a nationwide network of basement waterproofers, outlines the best strategies for both buyers and sellers when faced with a wet basement.
When a basement floods or shows signs of repeated water damage, the resulting damage to drywall, wood, carpet, cardboard, and furniture can be costly. Besides affecting the valuables and keepsakes often stored in the basement, wood floors and subfloors become susceptible to rot, and mould and dust mites thrive in a wet basement environment. The wet basement smell alone can cause concern to a buyer or seller, who will worry about the effect on air quality in the higher levels of the house and the potential for allergy and asthma-related harm.
Water damage is one of the major concerns of homeowners and potential homebuyers. Such a problem is common in properties that have basements. As you probably already know, the basement is susceptible to leakage since it’s surrounded by wet earth.
A leaky basement can be a real headache to deal with, considering the many opportunities for water to get inside. That’s why it’s essential to address its warning signs by visiting websites that offer basement waterproofing services before things get worse.
Are you still on the fence as to whether waterproofing your basement can be a good home improvement idea? The truth is that there are many benefits to doing it. Preventing water damage is the most obvious one, but waterproofing your basement does increase the value of your property, too. Read on to learn more about how basement waterproofing increases the value of your home.
At Hitch Property Constructions, we offer the best range waterproofing services to rectify your water issues.
Does Basement Waterproofing Increase your Home Value?
Water damage is a major concern to all homeowners as well as potential buyers. Unfortunately, this is a potential problem that comes with having a basement. Mouldy wood Surrounded by wet earth, basements are susceptible to leakage. From winter’s freezing and thawing, which can affect soil conditions and drainage, to summer’s rainstorms, which can flood lower levels of a structure, the potential for water damage is everywhere. Along with the potential for structural damage, leaky basements can also acquire efflorescence and or mould if left untreated.
This is why it’s so important to address the warning signs of a leaky basement. With all of these opportunities for water to get inside, a leaky basement can be a headache to deal with, and it will lower the value of a home considerably.
Once a basement shows signs of leakage, without corrective measures, it will continue to worsen. Along with water damage that enters the home, a breeding ground for mould is another issue in itself. According to real estate sales statistics, water leakage and mould growth can lessen the value of a property up to 25%.
There were many different methods of basement waterproofing available. However, it boils down to two different methods, interior basement waterproofing or exterior waterproofing. We would certainly like the opportunity to tell you a little more about our system. We have a very economical approach that carries an outstanding warranty making it much easier for a homeowner to recoup the cost of a basement waterproofing installation.
Without Basement Waterproofing, what is likely to happen to your home?
Your basement will be susceptible to flooding and seepage, and it can be costly to keep cleaning up the mess without first addressing the source and solving the basement waterproofing problem.
For Sale, SignYou may believe that waterproofing your basement is a costly process, but it will pay off during the resale of your home. Houses with finished, waterproofed basements are more likely to sell quickly and for a higher price than those with unfinished basements. A house with a leaking or water-damaged basement can even sit on the market for a much longer time, while buyers look elsewhere for basements whose problems have already been fixed.
Imagine walking into a house as a prospective buyer and seeing water pooling on the floor, or mould growing in the corners where water seepage is prevalent. You’re not likely to be interested in buying a place with such obvious issues, and this will drive down the price. Waterproofing is a great investment not only for improving your home while you live there but also for when you decide to sell. You will stand a better chance of selling a home that is waterproofed rather than leaking.
Buying a Home with a Wet Basement
If you’re willing to put the time and investment in fixing the basement, buying a house with a wet basement can represent an opportunity. Since for many homebuyers, buying a house with a wet basement represents an additional cost and a headache, these homes frequently sell at a discount. The value of a home with a wet basement can decrease as much as 10-25%. In “The Weakest Link” in the March issue of Builder Magazine, 19% of buyers looking to buy a new home admit they don’t want a “fixer-upper”. The advantage of buying a home with a wet basement is the opportunity to negotiate a bargain price.
In the current housing market, 40% of previously owned homes already have at least one serious defect; basement water is among the easiest of these defects to repair. Of the 12 red flags that USA Today identifies as serious problems for new homeowners (such as foundation cracks, asbestos, defective roofing, and lead paint), a wet basement is one of the fastest and least expensive to repair. In a day or two, a crew can install a sump pump, French interior drain, and a basement dehumidifier in a basement and ensure that the basement will stay dry. While the expense is not insignificant, basement waterproofing can immediately increase the value of the home by 400% or more of the cost.
Basement Systems has helped many happy homeowners who have negotiated a discounted price for a home they loved and hired a reliable basement waterproofing contractor in our network. In two days, the installation of a sump pump, French drain, and dehumidifier increases the value of the home by tens of thousands of dollars.
Selling a Home with a Basement Water Problem
Before selling a home that has a leaking basement – or a basement that has leaked in the past – consider fixing the problem. Repairing a wet basement should pay back for itself several times over. It will affect the price you can list your home at and will help you when negotiating with prospective buyers. A cast-iron sump pump and interior drainage system with a transferable warranty and energy-efficient, self-draining basement dehumidifier will inspire confidence that the basement area will stay dry and clean for years to come.
If your reason for selling your home is to increase available living space, consider waterproofing and finishing the basement as an alternative to selling. A finished basement is a cost-effective way to obtain additional, usable square footage in your existing home. Finished basements have become popular in the last 20 years, and the Home Improvement Research Institute has estimated that upwards of one million homeowners finish or remodel their basements each year. Additionally, Money Magazine has reported that building an addition can run as high as $150-$200 per square foot, whereas a basement finishing project should run only about $30-$75 per foot in most cases. An investment of 12-15% of the price of the house increases the livable space by one third to one half and is a smart investment. Even in the currently poor housing market, the national average return on investment of basement finishing is approximately 75% of the cost of installation. The final result is this: a beautiful, quiet, and naturally private new living space without the expense and hassle of moving.
Reasons Basement Waterproofing Increases Your Property’s Home Value
More Space to Utilize
A basement adds a floor to work with. If it’s waterproofed, it won’t be just used for laundry and storage purposes. Since it’s free for moisture and dampness, you can turn it into a guest room. Decorating and putting some furniture will surely turn it into a comfortable space in your home.
It can also be utilized as your entertainment and work corner. You can set it up as a recreational area with a home theatre system, pool table, video games, or whatever you like. Having a waterproof basement room will give a lot of extra space and enhance the value of your property significantly.
Looking for the best waterproofing company? Look no further! Hitch Property Constructions has you covered.
Water that seeps through the ground contributes towards the deterioration of a home’s foundation. Leaking walls will eventually develop cracks over time and get infested with moulds and moss. These may compromise the health and safety of your family. If the basement has waterproofing, the foundation of the house will be stronger. A stronger foundation will help to prevent or avoid these problems in the future. A home with a good foundation commands a higher value as compared to the one that’s damp and weak.
Moulds and cracks affect the indoor temperature at home as they let outside heat or cold to seep through. Due to these conditions, the heating, ventilation, and air conditioning (HVAC) system will require more power to maintain the desired temperature inside your home. But with a waterproof basement, you may reduce your energy consumption because the house will be better insulated from outside factors that affect the indoor temperature. An energy-efficient home is preferred by home buyers even though it comes at a much higher price. The energy cost savings cover the additional cost in the long run.
Common basements are dark, damp, smelly, and have other unpleasant features. A waterproofed basement is water-resistant, and it’s neat and tidy. The presence of cracks, moulds, peeled paint, and watermarks on the wall can be avoided when the basement is waterproofed. A dark and eerie basement can be transformed into a beautiful and cozy place if you waterproof it well. You can accomplish a lot of things in a flawless basement as it’s like any other furnished level of the house. Potential buyers will be impressed with the clean and tidy look of the basement, making it easier to negotiate a higher price for your property.
Safeguards Your Investment
Your home is one of the most important investments you’ll make during your lifetime. Not only can you live in it, but you can also sell it for a much higher price after a few years. And to get a good price, proper care and renovations are essential to keep it in topnotch condition. Waterproofing features in your basement will save you from countless repairs and quick fixes that you may have to do from time to time. Basement waterproofing is a long term investment for safeguarding your whole property. That’s because it strengthens the foundation of the house and makes it more livable.
Keeps The Basement Clean
Waterproofing makes your basement beautiful and neat. Seepage, cracks, holes, and peeling paints all disappear when you make your basement water-resistant. Surely, potential buyers will love the fine and neat look of your basement and are unlikely to find issues with it anymore. The worth of your home will increase as a result, and you can mark your property at a higher price.
Eliminates Health Problems
Your basement provides the best conditions for mould growth when it’s damp. Note that many respiratory complications, such as asthmatic attacks, are caused by mould allergen spores. There’s a need for you to waterproof your basement and prevent mould growth since most of the air you’re breathing in your home travels from this space. There’s nothing that makes a home more valuable than ensuring it’s a safe place for any family to live in.
Adds Space To Your Home
Homeowners can utilize a basement in a much wiser way if they waterproof it. You know that basements can be 1/3 or even half the total area of most houses. It shouldn’t be wasted in the name of a storage or laundry area. With a little bit of decoration, it can become an added comfortable space in your home as long as there’s no risk of moisture and dampness. Potential buyers of your property will love extra space, too.
Reduces The Costs Of Renovation
Basement waterproofing will give you a more extended period of relief from water damage. It’s a long-term solution that prevents you from wasting more money on repairs. Waterproofing your basement also helps when it comes to renovating or remodelling your property. Address basement water damage first and you can be sure that every other renovation you’re planning to do in your property is going to serve its purpose of increasing the value of your home.
Brings More Enjoyment To The Homeowner
Most people only think about money when considering the value of a home. While the price is certainly an important consideration, it’s also essential to take comfort and convenience into account. A home with a waterproof basement improves the quality of life of any family while living in it. Potential homebuyers of today know about it and will surely look into these factors when deciding whether to purchase your property or not.
When considering the impact of home improvements, most people only think about monetary resale value or return on investment. While cost certainly is an important consideration, it is also essential to take into account the value, comfort, and convenience you get from your home while you’re living in it. A waterproofed basement improves your quality of life while you’re in the home—you won’t have to worry about cleaning up after a flood or replacing water-damaged items. A dry basement will also help to maintain good indoor air quality and make it possible to use your basement as an extension of your living space. You can’t turn your basement into an extra bedroom, workroom, or family room if you don’t waterproof it.
We have a huge range of waterproofing services Melbourne at Hitch Property Constructions that offers stress-free services for any water problem you got!
What are the secondary benefits of my home?
Consider the protection of your existing investment. A wet, damp basement is going to decrease interest and value in your home sharply. An out-of-date kitchen or bathroom doesn’t do much to improve your home’s value, but a leaking basement creates very valid concerns of standing water or black mould that go far beyond practical or aesthetic concerns.
Over time, a poorly waterproof basement will be much more trouble than it’s worth, even compared to the hassle of waterproofing. Plus, any property in your basement could be subject to lose that probably won’t be covered by insurance.
And if your basement shows any sign of water damage when you put it up on the market, you can forget about selling without first fixing it. A qualified home inspector will warn the potential buyers of any visible damage, and they could well demand you waterproof the basement before selling. In that case, you’ll be paying out of pocket and doing the work on deadline – not a situation conducive to an inexpensive job.
Waterproofing your basement will provide many benefits that’ll increase the value of your property. A waterproofed basement ensures a stronger foundation. Waterproofing keeps moulds and pests away. A waterproofed basement can be used for various purposes, effectively giving you an additional cozy space to work with. A waterproofed basement will also reduce your energy bills. Therefore, the benefits of basement waterproofing outweigh its initial cost by a big margin. So, if your home property has a basement, you should waterproof it immediately. Investing in waterproofing will surely improve the quality and strength of your home, making it more valuable in the long run.
The benefits that a waterproofed basement brings are more than its expenses. One must not hesitate to take on such a project as it won’t only benefit a homeowner for the time being, but also offer a good return of investment in the long run. You should consider it if you own a property with a basement and have plans to sell your home in the future.