Basement construction can definitely be a do it yourself project. Waterproofing is something you need to pay close attention to. First lay a membrane on top of a sand bed and pour the concrete slab on that. This is your first line of defence against water. Next run a perimeter footing drain. Some ground conditions will require a sump pump in a sump pit. Check the ground water table depth and soil type to determine just what will be the right system for your house.
Do it yourself basement construction is best undertaken with either architectural concrete blocks or insulating concrete forms. Insulating concrete forms assist in waterproofing as well as helping to keep your basement warm in the winter and cool in the summer. Either of these methods of basement construction allows you to go slower and be careful. You should start by finding out what form style is available in your area. Many companies have a limited distribution and they may not be available to you without transporting in.
Concrete Block or Insulating Concrete Forms, both methods of basement construction, require that you take care ensure the walls are staying level and straight. Reinforcing bars will need to be used with any concrete construction. As stated earlier, insulated concrete forms will be helpful in waterproofing but you will also want to apply a membrane on the outside of the basement. You can use a roll-on coating as long as you are really careful to get it right. With the membrane you would run it down and over the concrete footing leaving no joints uncovered.