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Low-Profile Perimeter Drain. The manufacturer of H-Cove claims that this retrofit basement water channel requires significantly less demolition and material replacement than other strategies for reducing basement moisture. Installation entails removing a 3 1/2-inch-wide strip of concrete from around the outside edge of the floor. After it's poured in place, the resulting drain channel is all but invisible. H-Cove is intended to be used in conjunction with MTI's Control Cavity interior drainage material, but it should work with any well-designed moisture-control scheme. The material cost is $3 a linear foot. MTI, 800/879-3348, mtidry.com