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Yes, most general contractors require an initial down payment. A reasonable deposit is typically between 10% and 25% of the total project cost, although this can vary by project size and location. This upfront payment helps the contractor cover initial costs like materials, permits, licensing, and hiring subcontractors. The remaining balance is usually billed according to a schedule outlined in your contract, often tied to project milestones or completion dates. Be cautious of contractors who ask for a large deposit of 50% or more, as this could be a red flag for a scam.

While framing a basement is not as difficult as finishing a basement, it's something you should typically leave to the pros. That’s because if something is installed correctly, it will affect your entire basement. However, you can take care of some of the smaller tasks, like filling holes or putting up some insulation.

Any bowing in a basement wall indicates a problem that needs to be addressed by a professional. If your basement wall bows more than 1 inch, it's time for an inspection. Generally, a wall can bow up to 30% of its thickness (around 2.5 inches for an 8-inch-thick wall) before it becomes an urgent situation. Bowing of 2 to 4 inches is more straightforward to fix than bowing of more than 4 inches, which will require significant repairs. If the bowing is more than 6 inches, the wall will likely need to be replaced. The sooner you address the problem, the easier and less expensive the repair will be.

If you don’t have a crawl space but have a partial basement you want to make deeper, you can expect to spend a little less—between $40,000 and $90,000 on average. However, if you’re not adding new finished square footage, you won’t see much in the way of ROI.