The projected spending on home renovations for the first quarter of 2022 in America is pacing for 370 BILLION dollars. There is no denying that good quality work comes with a price. Also the cost of material goods right now are also a factor in higher prices. However the cost of your project, should not just be lining the pockets of your contractor. One red flag for this being the case is if they require a large amount of the total quote to be paid up front. It is an industry standard for a deposit to be made prior to job start, but you should not be asked to pay more than 50% up front.
Anyone who has done any type of home renovation and/or repair is aware that there can be things that cannot be seen until the work starts. There are times where the price quoted, will change as the job goes along. However your contractor should be able to fully walk you through this discovery either in person or with picture and/or video and explain what is needed in addition to what was quoted. Some contractors will bait and switch and blame it on materials. Require that they back that claim up.
Your neighborhood handy-man or your friend's buddy might be more than capable of doing the work, however you are only protected if you used a licensed contractor. A licensed contractor will be required to carry insurance to cover anything that may happen during the job. You want them to be able to provide you with a copy of this insurance BEFORE signing a contract to have the work complete.