A dry basement protects your investment, but a damp or leaky basement has the potential to affect the following:
Reduce property value
Damage to valuable and stored possessions
Loss of recreational and living space
Moisture causes mold and mildew which can have adverse effects on your health.
Water can be devastating to your home and personal property.
A wet or even damp basement is unsuitable for finishing. Moisture will get into the building materials and cause mildew, mold or rot.
Moisture causes unpleasant musty odors in floor coverings, furniture, and personal possessions.
Musty air from your basement can migrate to the upper level of your home.
Groundwater can severely damage your home's foundation. The Hydrostatic pressure that can cause foundation cracking and bowing, and in severe cases, may cause basement walls to crumble or collapse.
Most mortgage lenders inspect your home for water damage and will not approve a mortgage for a home with foundation or basement water problems.
The value of your home maybe reduced due to water or moisture problems in your basement. Most realtors will advise their customers to fix their basement before offering their home for sale.
Compare the price per square foot of adding an addition to your home versus finishing your entire basement into the nice comfortable living space you've always wanted. Your basement can be as warm and cozy as any room in your home.
Homes sell per square foot, so even a small increase will allow you to list your home for more money.