Basement waterproofing paint provides temporary relief from a leaking basement. However, paint can’t compete with hydrostatic pressure from groundwater. Eventually, water will make its way through the foundation and then through the paint. You’ll have to strip the paint and apply a new coat or find a different way to solve your problem. Additionally, applying waterproof paint is a difficult and time-consuming process. Basement waterproofing is a far better option because it solves your moisture problem.