When the topic is leaky basements, one usually thinks of water coming through the foundation and causing a flood. But basements that leak air can be a problem too if you have central air conditioning. When you’re paying to cool your home, a leaky basement will allow cool air to escape. This is like throwing away money. It also places a higher demand on your air conditioner, forcing it to work overtime to cool the home, shortening its lifespan, and increasing repair costs.