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Waterproofing a Basement on the Outside. One good reason for waterproofing a basement from the outside is that outside is where the water is. Water that enters a basement comes from the soil surrounding it, either below the foundation or around it.
The surest way to waterproof your basement walls is a full-scale exterior waterproofing solution. It’s also the most expensive — often $15,000 to $30,000. Exterior waterproofing involves excavating all around the house to the full depth of the foundation walls, then installing a waterproof coating or membrane topped by drainage panels.
Exterior foundation waterproofing involves digging down to the foundation footer to install or replace drainage pipes, commonly known as a French drain system. Sometimes a waterproof membrane is applied to the outside of the foundation wall to prevent water infiltration.