A frequently asked question we receive from homeowners in Toronto and the GTA is, “Will waterproofing my basement increase the value of my home?”. The most simple way to answer this question is, yes it will. Here are a few takeaways as to why.
More Livable Square Footage
Basement waterproofing offers many benefits to homeowners with the most obvious being that it helps prevent water damage to your home, furnishings and irreplaceable personal possessions. Not only does waterproofing protect these things but it also provides you with peace of mind at the same time as it offers an improved quality of life. With the high prices of real estate in Toronto and the smaller lot footprints, most homes enjoy having a basement that can be used as living space and offers valuable livable square footage to a home.
Avoid Costly Repairs & Potential Mold Issues
When you waterproof your basement the worry about cleaning up and replacing items after the next big storm hits is eliminated as you’ll always have a dry basement to venture to. It is also important to note that should you experience water damage in the basement, it may not be covered by your insurance policy. Waterproofing your basement provides you with the reassurance that you are living in a safer environment without the worry of mould and your indoor air quality won’t be a concern to you and your family. A dry basement means you can use the area to create extra living space. A home that is immediately going to require very costly waterproofing repairs in addition to hazardous mold cleanup is going to deter any potential home buyer from paying top dollar and full value for the home.
Adding Valuable Flex Space
A dry basement allows you to complete the basement to its full capacity and use it for various purposes, such as an extra bedroom, an office, family/rec room, bar, games room or gym etc. With more usable living space in the home, the value of it will naturally increase. With many people adjusting to the new norm of working from home an additional space to have as a home office or a second family room would be appreciated. A finished basement can be used for many flex spaces. If the home is not waterproofed you’re always at risk of water damage in the basement.
The cost to properly waterproof your home is a large undertaking, however, the money you layout in the process will almost certainly be recouped if you should decide to sell the house. A waterproofed basement is an excellent selling point and one that potential homeowners are willing to pay extra for when buying a home. Most people would rather move into a home that’s already waterproofed than have to do it themselves.
On the contrary, if the home is not waterproofed you may not get what you ask for when selling it since the buyer knows they’ll have to shell out the cost of having it done. This is especially true if you’ve suffered water damage in the structure in the past.
Get A Higher Selling Price For Your Home
If you do decide to professionally waterproof your basement before selling your home, know it is never too late! The basement doesn’t need to be leaking to have the work done. You can look at a waterproofed basement as an insurance policy. You may pay the premiums upfront but you will benefit financially in the long run. Basement waterproofing is considered a valuable home repair as the process is designed to last. The process helps protect your investment as a damp, wet basement will decrease both the value of your home and the interest in it from potential buyers.
It is imperative that you work with a waterproofing company that offers a transferable warranty. This means the warranty will cover the new homeowners when they move in. Be sure the waterproofing company is reputable and has been around for a long time as many companies will offer extended warranties but will most likely not be in business after a few years. Unfortunately, the basement waterproofing industry has many opportunists who offer waterproofing services for a short time before leaving the industry as it requires more work and expertise than people realize.
Nusite Contractors Ltd. has been proudly serving GTA homeowners for over 30 years! We are a family business and take pride in customer service and professional work. You can contact us here to schedule a free consultation and written estimate! We would be happy to help!