Have you done basement waterproofing in your home? This question might seem totally irrelevant at first but hold on because this is a pertinent question for anyone who owns a home.
Statics from Insurance Claims
According to research, 98% of basements in the US will experience some type of water or moisture damage during their lifespans. Yes, 98% . Other stats reveal that 37% of U.S. homeowners claim to have suffered losses from water damage.
The costs are just as staggering as the frequency. Water damage and mold related damages, cost the insurance industry $2.5 billion dollars per year, and the average cost of a home water damage insurance claim is $6,965.
Water leaks alone leave incredible amounts of damage and immense waste in their wake. Water leaks from homes in the US can exceed 1 trillion gallons of water in a year. That’s equivalent to the annual water usage of Los Angeles, Chicago, and Miami combined! These individual leaks often seem tiny, but over time they can generate enormous waste and damage to a home.
So, now that we have your full attention and curiosity, read on as we talk about the solution to this. “Basement waterproofing.” Because we cover you where insurance companies don’t.
Basement Waterproofing ROI
Basement waterproofing is a valuable home repair. As with many home repairs, your basement waterproofing ROI varies greatly by region, size of home and the extent of the waterproofing. However, nearly all experts agree that basement waterproofing is a valuable home repair that is well worth the expense. And unlike kitchen upgrades, appliances or paint jobs, basement waterproofing methods change slowly over the years. You’re not likely to see your waterproofing job fall out of fashion or become less trendy in a few years; no matter how the method is carried out. Generally, you can expect a return on investment of about 30 percent from a basement waterproofing job. This is a very good ROI value in addition to the many benefits it bestows on your home.
Also, Most experts agree that not only will you recoup the cost of waterproofing your basement when you sell your home, you may also profit from the investment. A waterproofed basement can count as livable space and increase the value of your home. Most people buying homes prefer to buy one with a basement that is already waterproofed and will pay for it. On the flip side, not having a waterproofed basement can force you to sell your home at a lower price when water damage appears on the inspection report. If you have water damage in your basement, you may struggle to sell your home at all.