There is nothing more troubling to homebuyers and realtors than a home with a wet basement. People on the market for a new home are looking for a space in their basement that is dry, livable, and expandable. Not only does a wet basement smell as humidity rises into the home, but a basement that floods every time it rains can damage your valuables, wood floors, and foundation. Also, mold can thrive in a wet basement. If you have a wet basement problem, you should consider how waterproofing a basement can help you sell a home quickly and at the market price that you would like.
Where Basement Waterproofing Pays Off
Waterproofing a basement can help you sell a home very quickly and at market value. On average, the Home Improvement Research Institute estimates that 1,000,000 homeowners finish, waterproof, or remodel their basement every year. If you are looking to increase the living space of your home before you sell it, basement waterproofing can actually save you money rather than adding an addition to your house. A new addition on a home can cost as much as $250 per square foot. Waterproofing and finishing a basement, on average, will only cost you $75 per square foot at maximum. Keep this in mind as a livable basement can actually help you sell your home by adding valuable square footage.
Another thing to keep in mind is that basement waterproofing will really seriously help impress your realtor. If you need to sell your home quickly, StayDry® is perfect at getting the job done on time and making sure that the cleanup goes right.
Realtor Tips for Basement Waterproofing
When selling a home, we have a few recommendations for realtors. These are things that you should do when listing a property.
(1) Inspect the Basement
You should personally inspect the bottom two feet of a basement wall for cracks, leaks, and signs of water damage. Things that you might notice include moldy or stained drywall, foundation cracks, and other issues. The purpose of this inspection will help you advise the homeowner and convince the homeowner of repairs that need to be done before the home is placed on the market. The early identification of common issues will help you motivate the homeowner to rectify these issues before the home is placed on the market.
(2) Do Your Home Inspection With the Homeowner
Many times, homeowners claim not to be educated on the issues with leaks in their basements. If you do the home inspection with the homeowner present, you will help educate them on the issues right away. You may also want to invite an installation expert from StayDry® waterproofing. This way, the homeowner will be able to be educated about the repairs that are needed for their basement.
(3) Explain the Benefit of StayDry’s Lifetime Transferrable Warranty
The lifetime transferrable warranty is another selling point for the homeowner. Not only will the homeowner have a livable basement that they can use to increase the value of the home, but StayDry® also offers the best lifetime transferrable warranty in Michigan. This is something that you should definitely consider before placing your home on the market.
(4) Consider the Major Stressors in Moving
Many potential buyers are going to be very concerned with the major life changes that are associated with moving. Potential buyers are thinking about:
- The mortgage that they are going to have to get approved for.
- Making a major change to their financial state.
- Changes in their living conditions and residence.
If a potential buyer inspects a basement with water damage, this is going to add to the stress of moving. The cost of basement waterproofing can be included in the sale price of the new home. The lifetime transferrable warranty is a great selling point to help mitigate the homebuyer’s concerns.
(5) Educate the Seller Along the Way
When selling a home, make sure that you educate the seller about the importance of basement waterproofing. Once a property is listed, a wet basement will turn off most prospective buyers. As a relator, educating the seller may make the buying process longer, but will help get the home to the market in pristine condition.
(6) Tie Rod Hole Problems and Older Homes
This is going to be a common problem with many new homes. Many old homes are going to have tie rod holes from the foundation construction. This is left over from the original construction of the home. Many tie rod holes will have water stains around them where water has leaked in. You will also notice that mold might be building up around these holes in your foundation. This is a perfect opportunity to educate sellers on what needs to be done to move the home to the market.
Giving the Buyer the Best Home Possible
At the end of the day, your basement is probably the most important investment that you can make in your home. While many sellers are thinking about adding to the home with an addition, most basements can be waterproofed and refinished for only a fraction of the cost. At the end of the day, if you rush a home to market with a wet basement, the likelihood of that home sitting on the market for quite some time increases drastically.
StayDry® works with both homeowners and realtors throughout Michigan. Getting the basement waterproofing right in an older home will help push this to market more quickly and help the seller get the most out of their potential sell. The basement is the first thing that people look at before they make a decision on the home and many realtors look at it first thing before putting a property on a listing.