Absolutely avoid DIY-ing this without knowing what you're doing, like installing a standard pump without a dedicated sump pit - the water's just gonna pool somewhere else and you'll rot out your foundation.
What really makes the difference is checking first whether you've got an external drainage problem or if it's really just groundwater coming up: if your gutters are dumping water next to the house or the soil around it isn't draining well, a pump will just be a band-aid.
Honestly, digging the pit and installing it can be done but you really gotta know what you're doing with the plumbing and electrical - I'd suggest calling someone to at least handle the heavy lifting, or at minimum get some advice on-site before you jump in. Budget-wise, figure somewhere between the cost of a pump (a few hundred bucks) and possibly more if you need to dig and do the work properly, but you'll quickly make it back compared to repeated flood damage.