Without knowing the local soil and water table conditions it is hard to advise. EPDM liner can be used to build ponds, so, it would make an impressive water barrier on a foundation if combined with proper footing drains. Whether it is necessary, or if less expensive systems have proven adequate is dictated by local conditions. From my own building experience, the biggest problems are related to improper backfill and blocked footer drains, not the waterproofing coating or system. You can build a dam, but the wall may not be designed to withstand the hydrostatic pressure when DRAINAGE is not properly provided.