Exterior Basement Waterproofing can be a costly and time-consuming venture, though the overall value and protection waterproofing offers your home makes it a valuable investment. Exterior waterproofing should only be done by professionals, as the process is often more complicated and precise than many homeowners suspect. Exterior waterproofing encompasses excavating the perimeter of the home’s foundation. Once the perimeter has been excavated, old drainage systems are replaced and the foundation examined for signs of cracking and water damage. A rubber membrane is then applied to the foundation along with a second membrane for drainage. These membranes are then covered with loose gravel in order to facilitate drainage. The excavated area is then filled and compressed to the same level as the surrounding soil.