They're often confused, sometimes needed together, and almost never the same fix. Here's how to tell which one your home actually needs.
Foundation repair addresses structural movement — settling, bowing walls, sinking corners — usually with piers, wall anchors, or carbon fiber reinforcement. Basement waterproofing addresses water intrusion — leaks, dampness, flooding — usually with interior drainage systems, sump pumps, or exterior membranes. They're related but distinct problems, and a home can need one, the other, or both. A crack that's letting water in but isn't structurally moving needs waterproofing/sealing, not piering; a wall that's bowing inward needs structural reinforcement even if it's bone dry.