The recent real estate market has been one of the worst for sellers since the Great Depression. The collapse that began in 2007 has lasted a good half a decade – far longer than many believed. But now things are starting to turn around. Inventories are lower, interest rates are at record lows, and sellers are finally starting to get better prices for their homes. But just because the market is turning around doesn’t mean you shouldn’t make your home stand out from the crowd, and one of the best ways to accomplish this is through basement waterproofing.
When you are preparing a home to be sold, home repairs and improvements are a must. You certainly want your home to be in tip-top condition and have the look and feel that will be welcoming to a new buyer. But one thing many home sellers often overlook is their lower level and the value of basement waterproofing in the downstairs.
The first thing to consider is that if you currently have moisture in your lower level, there is a good chance there may be mold and mildew growth down there as well. This means you and your family could be living with very poor air quality – at least in your basement. When folks come to look at your home during open houses and private showings, they are going to notice this problem, and at the very least it will be a strike against your home.
Another consideration is if you live in a low-lying area that is prone to basement flooding. If this is the case, then your downstairs level is only one sump pump outage away from water overflowing down there. And when this happens, if it is not dealt with right away, it can lead to the air quality problems mentioned earlier.
Prospective buyers are always thinking about making use of all the square footage you have in one way or another, but if the lower level is prone to moisture or flooding, then the only thing they will be able to use it for is a storage area – and even then they will need to be careful to keep things up on stilts so they are not damaged by moisture. The solution to this problem is basement waterproofing.
When you waterproof your basement, it will automatically raise the value of your home – and most likely far beyond the investment you make with the basement waterproofing contractor. Here’s why…
- When your prospective buyers find out that your lower level is completely free of moisture and the air quality down there is good, they will automatically consider that area as viable living space.
- Going one step further, you can actively market the fact that your basement is waterproofed, and encourage prospects to imagine all the ways the lower level can be developed and turned into the room of their dreams, such as an extra bedroom, home office, game room, etc.
- If you have addition cash to invest, you may want to go all the way and develop the lower level yourself after the basement waterproofing is done. For example, you could build an additional bedroom, adding thousands of dollars to the value, and allowing you to adjust the listing for more finished square feet and an additional bedroom.
Bottom line – basement waterproofing is a very good investment that will likely pay off nicely in placing your home a cut above your competition and allowing you to get top dollar as the housing market recovers.