Basement Waterproofing: Keeping Basements Low And Dry By: Kyle Donley | - Oh no! The basements flooded again and (gasp) Grandmas staying in the guest room! And she cant swim! Okay, that scenario may be a little extreme, but that doesnt mean it couldnt happen. The truth is leaky basements are quite common, though there are potential steps you could take to prevent such an occurrence. Before dishing out the dollars to a contractor, do a little investigating of your own.